European Economic News Preview: Eurozone Flash Inflation, Final Factory PMI Data Due

Flash inflation and final manufacturing Purchasing Managers’ survey results from the euro area are due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to fall 3.6 percent annually in April, following a 3.1 percent drop in March.

In the meantime, Destatis is slated to publish Germany’s retail sales data. Economists forecast retail sales to climb 0.4 percent on month in March, in contrast to the 1.3 percent fall in April.

At 3.00 am ET, Swiss SECO consumer sentiment survey results are due.

At 3.15 am ET, S&P Global publishes Spain manufacturing PMI survey data. The score is forecast to fall to 49.0 in April from 51.3 in March.

At 3.45 am ET, Italy’s manufacturing PMI data is due. Economists forecast the index to fall to 49.0 in April from 51.1 in the previous month.

Thereafter, final PMI survey data is due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, the European Central Bank publishes euro area monetary aggregates for March. M3 money supply is expected to grow at a slower pace of 2.4 percent annually after rising 2.9 percent in February.

Also, S&P Global releases euro area final manufacturing PMI data. The final reading is seen at 45.5 in April, unchanged from the flash estimate and down from 47.3 in March.

At 4.30 am ET, UK S&P/CIPS final manufacturing PMI survey results are due. The index is expected to drop to 46.6 in April, in line with flash estimate from 47.9 in March.

At 5.00 am ET, Eurostat publishes Eurozone flash inflation data. Inflation is expected to rise marginally to 7.0 percent in April from 6.9 percent in March.

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