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European Economics Preview: German ZEW Survey, UK Inflation Data Due
Economic sentiment from Germany and consumer price inflation from the U.K. are the major reports due on Tuesday.
At 2.00 am ET, European Automobile Manufacturers' Association, or ACEA is slated to release new car registrations for March. Registrations were down 9.7 percent year-on-year in February.
At 4.30 am ET, the Office for National Statistics is slated to release U.K. inflation data for March. Annual inflation is expected to remain steady at 3.4 percent. At the same time, retail price inflation is seen easing to 3.6 percent from 3.7 percent in February.
Spain's government aims to raise between EUR 2 billion and EUR 3 billion from the auction of short-term bills. Spain plans to issue 12 and 18 months Treasury bills.
Germany's ZEW economic sentiment survey results are due at 5.00 am ET. Economists forecast sentiment to drop to 19 in April from 22.3 in March.
In the meantime, Eurostat is set to release final HICP figures for March. According to flash estimate, Eurozone annual inflation fell to 2.6 percent in March from 2.7 percent in February.
Italy's current account data for February is also due at 5.00 am ET. The current account deficit totaled EUR 7.95 billion in January.
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Eurozone Current Account Swings To Deficit In February
The Eurozone current account unexpectedly logged a seasonally adjusted deficit of EUR 1.3 billion in February, the European Central Bank said Wednesday. Economists were expecting the surplus to fall to EUR 2 billion from EUR 3.7 billion surplus seen in January.
The surplus in goods account fell to EUR 1.5 billion in February from EUR 3.3 billion last month. Likewise, the balance in income declined sharply to EUR 1.2 billion from EUR 4.2 billion. Meanwhile, the surplus in services rose to EUR 4.7 billion from EUR 4.1 billion.
The deficit in current transfers totaled EUR 8.7 billion compared to a shortfall of EUR 7.9 billion a month ago.
The 12-month cumulated seasonally adjusted current account registered a surplus of EUR 2.1 billion in February, which was less than 0.1 percent of euro area GDP, compared with a deficit of EUR 18.1 billion a year earlier.
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European Economics Preview: Spanish Debt Auction In Focus
Spanish debt auction is set to dominate the European economic news on Thursday amid widespread concerns that the country may be forced to seek an international bailout after its borrowing costs surged close to levels widely seen as unsustainable at an auction on April 11.
At 3 am ET, the Hungarian Central Statistics office is expected to release the data on average gross wages for the month of February. Economists expects an annual increase of 6 percent.
Unemployment data from the Netherlands is due at 3.30 am ET. At 4 am ET, Italian statistical office is expected to publish industrial orders' statistics for February. Orders are forecast to decline 6.2 percent year-on-year and 1.1 percent month-on-month amid waning demand from Europe.
At 4.30 am ET, Spain is set to auction around EUR 2.5 billion in two and 10-year bonds. The yield on benchmark 10-year bond rose to above 6 percent on April 11, but fell back on Tuesday.
France is scheduled to auction securities including 2017 notes and 2018 inflation-linked debt for a maximum target of EUR 11 billion at around 4.50 am ET and 5.50 am ET. Markets are also keen on France as it comes just days ahead of the first round of Presidential elections on Sunday.
Industrial production and producer price index from Poland is expected at 8 am ET. Production is forecast to rise 4.4 percent annually in March, while producer price inflation is seen moderating to 4.8 percent.
Flash consumer sentiment from Eurozone is slated for release at 10 am ET. The confidence index is expected to stay almost steady at -19. Consumer confidence index rose to -19.1 in March from -20.3 in the previous month.
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European Economics Preview: German Ifo Business Confidence Forecast To Fall
Business confidence from Germany and retail sales from the U.K. are the major reports due on Friday.
At 2.00 am ET, the Federal Statistical Office is set to release German producer prices for March. Producer price inflation is seen easing to 3.1 percent in March from 3.2 percent in February. On a monthly basis, producer price inflation is seen at 0.4 percent.
Dutch consumer spending and consumer confidence are due from Statistics Netherlands at 3.30 am ET.
The Munich-based Ifo institute is slated to publish German business confidence survey results at 4.00 am ET. The business sentiment index is seen easing to 109.5 in April from 109.8 a month ago. The current assessment index is expected to fall to 117.
Half an hour later, U.K. retail sales figures are due. Economists forecast retail sales to rise 0.4 percent month-on-month in March after easing 0.8 percent in February.
Poland's net consumer price inflation data is due at 8.00 am ET. Annual inflation is seen falling to 2.5 percent in March from 2.6 percent in February.
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European Economics Preview: Eurozone PMI Data Due
Flash results of Purchasing Managers' survey from major Eurozone economies are due on Monday.
At 2.45 am ET, the French statistical office Insee is scheduled to publish April business confidence survey results. The index is expected to remain unchanged at 96.
Markit Economics is set to publish Purchasing Managers' survey data at 3.00 am ET. The French manufacturing PMI is seen rising to 47.2 in April from 46.7 a month ago. Likewise, the services PMI is forecast to rise to 50.2 from 50.1 in March.
Half an hour later, German flash PMI figures are due. The manufacturing PMI is expected to rise to 48.9 from 48.4 and the services PMI to improve to 52.4 from 52.1.
At 4.00 am ET, Markit is expected to issue Eurozone flash PMI. The composite PMI is seen rising to 49.3 in April from 49.1 a month ago. In the meantime, Italy's consumer confidence for April is due.
Eurostat is slated to release Eurozone government debt-GDP data for 2011 at 5.00 am ET.
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European Economics Preview: U.K. GDP Data Due
Quarterly national accounts from the U.K. is the major data that is set to dominate the scene on Wednesday.
Spain's statistical office INE is set to publish producer prices for March. Producer prices had increased 3.4 percent year-on-year in February.
At 4.00 am ET, the European Central Bank is scheduled to release bank lending survey results. In the meantime, Norges Bank's first quarter bank lending survey data is due.
Poland's retail sales and unemployment reports are also due at 4.00 am ET. The jobless rate is seen falling to 13.4 percent in March from 13.5 percent in February. Retail sales growth is expected to drop to 10.5 percent from 13.7 percent a month ago.
The Office for National Statistics is scheduled to release quarterly national accounts for the first quarter. Economists forecast the U.K. economy to expand 0.1 percent sequentially after contracting 0.3 percent in the fourth quarter of 2011.
In the meantime, the U.K. index of services for three months ended February is due. Services output is expected to rise 0.5 percent from the prior three months.
At 5.30 am ET, Germany's long-term debt auction results are due. The government aims to raise EUR 3 billion from the issue of bonds maturing on July 2044.
The Confederation of British Industry is scheduled to release Industrial Trends survey data at 6.00 am ET. The order book balance is seen at -6 percent in April compared to -8 percent in March.
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European Economics Preview: Eurozone Economic Sentiment Due
Economic sentiment data from Eurozone is the major report on tap for Thursday, an otherwise light day for European economic news.
Consumer confidence survey results from Statistics Finland is expected at 2 am ET.
At 3.15 am ET, Sweden's National Institute of Economic Research is due to release the economic tendency survey report for April. At 3.30 am ET, Swedish producer price figures from Statistics Sweden is slated for release.
At 4 am ET, Italian business sentiment data is due. Economists expect the sentiment index to remain unchanged in April. The Norwegian Labor and Welfare Organization is also due to announce the unemployment figures for this month at the same time.
The British Bankers' Association is scheduled to publish mortgage approvals data for the month of March at 4.30 am ET. The number of mortgage approvals are expected to rise to 34,000 during the month.
Euro area economic sentiment survey results from the European Commission is slated for release at 5 am ET. Economic confidence index is expected to fall only slightly to 94.2 in April from 94.4 in March.
Italy is auctioning EUR 8.5 billion in six-month treasury bills at around 5 am ET.
The Confederation of British Industry is due to publish the distributive trades survey at 6 am ET. German preliminary inflation data is expected at around 8 am ET.
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European Economics Preview: German GfK Consumer Confidence Due
Consumer confidence survey results from Germany and consumer spending from France are due on Friday.
At 2.00 am ET, German GfK consumer confidence is due. The forward-looking indicator is forecast to remain unchanged at 5.9 points in May.
In the meantime, Destatis is slated to publish German import prices for March. Import price inflation is seen slowing to 3.3 percent annually from 3.5 percent in February.
At 2.45 am ET, the French statistical office Insee is scheduled to release consumer spending and producer price figures. Economists forecast consumer spending to fall 1.9 percent month-on-month in March. At the same time, producer price inflation is expected to drop to 4 percent in March from 4.3 percent in February.
At 3.00 am ET, a slew of statistical reports are due from Spain. Spain's EU harmonized inflation is seen unchanged at 1.8 percent in April. For the first quarter, the jobless rate is forecast to rise to 23.8 from 22.8 percent in the prior quarter.
Half an hour later, Statistics Sweden is scheduled to issue retail sales and trade balance for March. Retail sales are expected to drop 0.3 percent month-on-month after rising 1.2 percent a month ago. Economists predict the trade surplus to rise to SEK 7 billion from SEK 5.9 billion in February.
At 4.00 am ET, Italy's retail sales figures are due. Retail sales are forecast to drop 0.2 percent month-on-month in February after rising 0.7 percent in January. In the meantime, Norway's retail sales data is also due.
Italy plans to raise a maximum of EUR 6 billion from BTP auction. Results are due at 5.10 am ET.
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UK House Prices Increase For Second Month
House prices in the UK rose for a second consecutive month in April led by London, a survey by Hometrack revealed Monday.
Home prices at national level rose 0.1 percent month-on-month in April after 0.2 percent gain in March, the survey report said. The strongest price gain was reported in London, with a 0.3 percent increase.
"Conflicting reports over the strength of the economy and renewed fears over the prospects for the Eurozone could over the coming months impact on buyer confidence," said Richard Donnell, director of research at Hometrack. "As a result we expect price rises to flatten out as we move into the summer."
Meanwhile, the supply of properties rose 4.8 percent in April, faster than a 3.6 percent increase in March.
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Eastern European Business Climate Index of Foreign Direct Investors Soars in April - Oekb
The OeKB Central and Eastern European Business Climate index of FDI soared to 24 points from 14 in Jan
The economic outlook gauge swung 21 points higher to 11 in April from -10 in Jan.
Russia's business climate gained 13 points to 58 and Romania's doubled to 28, while Ukraine's reading fell eight points to 26 amid continued political tension.
Hungary was in negative territory even as its business climate improved to -9 from -31.
Quotes
"The mood among direct investors for the entire central Europe region has improved noticeably since January. For the coming 12 months a pick-up in the economy and thus a rise in Austrian exports to CEE is expected
OeKB survey
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