Manufacturing sector activity report for Eurozone, France and Germany are some of the important economic data due on Friday.
The European central Bank revealed yesterday in its first ever minutes of rate-setting sessions that a large majority of policymakers supported the massive stimulus measure during the January 22 meeting.
Markit Economics is due to release its flash manufacturing and services purchasing managers’ indexes, or PMI, for France, Germany and Eurozone at 3 am ET, 3:30 am ET and 4 am ET, respectively. The manufacturing PMI for France is expected to rise to 49.6 in February from 49.2 in January. The services
PMI is forecast to edge up to 49.9 from 49.4.
The manufacturing PMI for Germany is estimated to climb to 51.1 in February from 50.9 in. The services PMI is set to come in at 54.4, higher than the 54 score in January.
The manufacturing PMI and services PMI for the eurozone are forecast to come in at 51.5 and 53, respectively, in February. This is higher than the readings of 51 and 52.7 scores, respectively recorded for January. The composite PMI is expected to rise to 53 from 52.6.
At 2 am ET, German statistical office Destatis is due to release its producer prices report. Producer prices are expected to fall 2 percent year-over-year in January after the 1.7 percent drop in December. On a month-over-month basis, producer prices are expected to decline 0.4 percent following the 0.7 percent drop in the previous month.
At 3 am ET, the Hungarian Central Statistical Office will release its gross wages report for December. In November, average gross wages had risen 1.1 percent annually.
Around the same time, the Swedish National Institute of Economic Research is due to release the results of the economic tendency survey for Sweden. The economic tendency indicator is expected to rise to 106 in February from 105.6 in January. The consumer confidence index is estimated to increase to 99.5 from 98.6 in the previous month. Meanwhile, the manufacturing confidence index is forecast to decline to 106.8 in February from 107.3 in January.
At 3:30 am ET, Statistics Netherlands is scheduled to release its consumer confidence report for February and consumer spending report for December. In January, the consumer confidence index was at -6. In November, the consumer spending had risen 0.6 percent year-over-year.
At 4 am ET, Italy’s ISTAT is due to release its industrial orders report for December. In November, industrial orders had declined 4.1 percent annually and 1.1 percent month-over-month.
U.K ‘s Office for National Statistics will release its retail sales and public sector borrowing reports at 4:30 am ET. Annually, retail sales, including auto fuel, is set to grow 5.9 percent in January after the 4.3 percent growth in December. Excluding auto fuel, retail sales are also estimated to rise 5.9 percent year-over-year, faster than the 4.2 percent climb in December.
Public borrowing, excluding interventions, is expected to decline by GBP 9 billion in January. In December, public borrowing had risen by GBP 13.1 billion.
At 5 am ET, the Croatian Bureau of Statistics will release its consumer prices report for January. In December, consumer prices had declined 0.5 percent year-over-year and 0.9 percent month-over-month.
Around the same time, ISTAT is due to release its consumer prices report for January. The harmonized index of consumer prices is expected to decrease 0.4 percent annually, the same rate as in December.
At 9 am ET, the National Bank of Belgium is scheduled to release its consumer confidence report for February. In January, the index was at -9.
European Union’s Jonathan Hill is expected to meet banking officials in London today and EU’s Margrethe Vestager is due to speak at a conference in Copenhagen.
The material has been provided by InstaForex Company – www.instaforex.com