RTTNews - Friday, a slew of statistical reports are due from major European economies. Among them, the German foreign trade data and UK's PPI are set to dominate the scene.
At 1.45am ET, the State Secretariat for Economic Affairs is slated to issue Swiss unemployment details for July. The jobless rate is expected to rise to 3.7% in July from 3.6% in June. On a seasonally adjusted basis, the unemployment rate is seen at 3.9%, up from 3.8% in June.
The German foreign trade data is due from the Federal Statistical Office at 2.00am ET. The trade surplus is forecast to rise to EUR 10.6 billion in June from EUR 9.6 billion in May. Meanwhile, the current account surplus is expected to surge to EUR 8 billion from EUR 3.7 billion. At the same time, details of German insolvencies and raw steel production are also slated.
At 2.45am ET, the French trade balance is expected. Economists predict the trade deficit to widen to EUR 2.9 billion in June from EUR 2.7 billion.
The statistical reports due at 4.00am ET are Italian GDP and Norwegian industrial output. The Italian economy is forecast to shrink 6.1% annually in the second quarter. On a sequential basis, contraction is seen at 0.7%.
Half an hour later, UK's Office for National Statistics is scheduled to report producer prices data. After falling 0.2% in June, output prices are expected to stay flat on a monthly basis. Meanwhile, input prices are forecast to slip 0.8% in July, reversing June's 1.5% increase.
Thereafter, Germany's industrial production data is due from the Federal Ministry of Economics and Technology at 6.00am ET. Economists anticipate 0.5% monthly growth in June compared to a 3.7% rise in May. Year-on-year, economists see a 17.5% decline.
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