European Economic News Preview: Eurozone Flash PMI Data Due

Flash Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK public sector finance d...

RTT Staff Writer•Tuesday, April 23, 2024•1 min read

Flash Purchasing Managers’ survey results from the euro area and the UK are the top economic news due on Tuesday.

At 2.00 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is forecast to widen to GBP 8.9 billion in March from GBP 7.48 billion in February.

At 3.15 am ET, S&P Global is scheduled to release France flash PMI survey results. The services PMI is forecast to rise to 48.9 in April from 48.3 a month ago. Likewise, the factory PMI is expected improve to 46.9 from 46.2 in the previous month.

At 3.30 am ET, Germany’s flash PMI survey data is due. Economist forecast the manufacturing PMI to climb to 42.8 in April from 41.9 a month ago and the services PMI to improve to 50.6 from 50.1.

At 4.00 am ET, S&P Global publishes Eurozone flash PMI survey results. The composite output index is expected to advance to 50.8 in April from 50.3 in the previous month.

Half an hour later, UK S&P/CIPS flash composite PMI data is due. The manufacturing PMI is seen unchanged at 50.3 in April and the services PMI to drop to 53.0 from 53.1 in March.

At 8.00 am ET, Hungary’s central bank announces its monetary policy decision. The bank is forecast to cut its key rate to 7.75 percent from 8.25 percent.