European Economic News Preview: Germany & Spain GDP, Inflation Due

RTT Staff Writer•Tuesday, July 30, 2024•1 min read

Second quarter GDP from the Eurozone’s big-four economies and flash inflation from Germany and Spain are due on Tuesday.

At 1.30 am ET, France GDP data is due. The economy is forecast to grow 0.2 percent sequentially in the second quarter, the same pace as seen in the first quarter.

At 3.00 am ET, Spain’s INE is scheduled to issue preliminary GDP and inflation figures. Economists expect GDP to expand at a slower pace of 0.5 percent in the second quarter after rising 0.8 percent in the first quarter. Consumer price inflation is seen at 3.1 percent in July compared to 3.4 percent in June.

In the meantime, flash GDP from Austria and the Czech Republic are due.

At 4.00 am ET, Destatis is slated to release Germany’s flash second quarter GDP data. The largest euro area economy is forecast to expand only 0.1 percent after growing 0.2 percent a quarter ago.

Also, Italy’s ISTAT publishes advance GDP estimates. Italy’s GDP is expected to climb 0.2 percent on quarter, slightly slower than the 0.3 percent expansion seen in the first quarter.

At 5.00 am ET, Eurozone flash GDP and economic sentiment survey results are due. The euro area GDP is forecast to grow 0.2 percent sequentially compared to 0.3 percent expansion seen in the first quarter.

At 8.00 am ET, flash inflation data is due from Germany. Consumer price inflation is expected to remain unchanged at 2.2 percent in July.

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