European Economics Preview: Eurozone Unemployment, Factory PMI Data Due


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

At 2.00 am ET, the UK Nationwide house price data is due. Economists forecast house prices to rise 8.9 percent on a yearly basis in August, following an 11 percent increase in July.

In the meantime, Destatis is scheduled to issue Germany’s retail sales figures for July. Sales are forecast to fall 6.5 percent on a yearly basis, slower than the 8.8 percent decline in June.

Half an hour later, consumer prices and retail sales figures are due from Switzerland. Economists expect consumer price inflation to remain stable at 3.4 percent in August.

At 3.00 am ET, final GDP and foreign trade from Hungary and PMI survey results from the Netherlands and Poland are due.

At 3.15 am ET, Spain’s manufacturing PMI data is due. The index is seen at 48.5 in August, down from 48.7 in the previous month.

At 3.45 am ET, S&P Global is set to publish Italy’s manufacturing PMI survey data. The PMI is expected to fall to 48.0 in August from 48.5 in July.

At 3.50 am ET, France final factory PMI survey report is due for August. The index is seen at 49.0, the same as flash estimate and down from 49.5 in July.

At 3.55 am ET, Germany’s S&P final PMI data is due. Economists expect the index to rise to 49.8 in August, as initially estimated, from 49.3 in the previous month.

At 4.00 am ET, S&P Global publishes euro area final manufacturing PMI data. Economists expect the index to drop to 49.7 in August from 49.8 in the previous month.

Also, Italy’s Istat releases unemployment data for July. The jobless rate is seen at 8.1 percent, unchanged from June.

At 4.30 am ET, UK S&P/CIPS manufacturing PMI survey results are due. The index is seen at 46.0 in August, in line with flash estimate and down from 52.1 in July.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment data for July. Economists forecast the jobless rate to remain unchanged at 6.6 percent.

Also, Italy’s revised GDP data for the second quarter is due. The statistical office is expected to confirm 1.0 percent sequential growth.

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