European Economics Preview: Germany’s Flash Consumer Price Data Due

Flash consumer prices from Germany and France and final Purchasing Managers’ survey results from major euro area economies are due on Wednesday, headlining a busy day for the European economic news.

At 2.45 am ET, France’s statistical office Insee publishes flash consumer prices and monthly consumer sentiment survey data. EU harmonized prices are forecast to rise 0.2 percent annually in December, the same rate as seen in November.

The French consumer confidence index is expected to fall to 91 in December from 90 a month ago.

At 3.00 am ET, the Czech Statistical Office is slated to issue foreign trade data for November. In the meantime, gross wages and producer price figures are due from Hungary.

At 3.15 am ET, IHS Markit releases Spain’s services PMI data for December. The index reading is expected to advance to 45.0 from 39.5 in the previous month.

At 3.45 am ET, Italy’s services PMI data is due for December.

Thereafter, final composite PMI figures are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit publishes euro area composite PMI data. The final reading is seen at 49.8 in December, unchanged from flash estimate, and up from 45.3 in November.

Half an hour later, UK Markit/CIPS composite PMI is due. The composite index is expected to rise to 50.7 in December, as initially estimated, from 49.0 in November.

At 5.00 am ET, Eurostat is scheduled to issue producer price data. Eurozone producer prices are forecast to fall 2.2 percent annually in November after easing 2 percent in October.

At 8.00 am ET, Destatis is set to release Germany’s flash consumer prices for December. Economists forecast EU harmonized prices to fall 0.6 percent annually after easing 0.7 percent in November.

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