European Economic News Preview: Germany Inflation Data Due

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

At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss retail sales for May. Sales are forecast to grow 2.5 percent on year, following a 2.7 percent rise in April.

At 3.15 am ET, Spain’s manufacturing Purchasing Managers’ survey results are due. Economists expect the factory PMI to fall to 53.1 in June from 54.0 in May.

At 3.45 am ET, factory PMI survey data is due from Italy. The manufacturing PMI is seen at 44.3 in June, down from 45.6 a month ago.

Final PMI survey results are due from France and Germany at 3.50 am ET and 3.55 am ET, respectively.

At 4.00 am ET, Eurozone final manufacturing PMI data is due. The index is seen at a six-month low of 45.6 in June, unchanged from the flash estimate and down from 47.3 in the previous month.

Half an hour later, the Bank of England releases mortgage approvals data for May. The number of mortgage approvals is expected to fall to 60,000 from 61,140 in April.

In the meantime, S&P Global publishes the UK final manufacturing PMI survey results. The initial estimate showed that the factory PMI rose to 51.4 in June from 51.2 in May.

At 8.00 am ET, Destatis publishes Germany’s flash inflation figures for June. Consumer price inflation is forecast to ease slightly to 2.3 percent from 2.4 percent in May.

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