E.U. Economics Preview: Germany Ifo Business Confidence Data Due

Business confidence and revised GDP from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s revised GDP data for the first quarter. According to preliminary estimate, gross domestic product fell 1.7 percent sequentially, in contrast to the 0.5 percent growth seen in the fourth quarter.

Also, April public sector finance data is due from the UK.

At 3.00 am ET, Spain’s producer price data is due. In the meantime, industrial production from Austria and manufacturing sentiment from Turkey are due.

Half an hour later, Statistics Sweden is slated to release producer prices for April.

At 4.00 am ET, Germany’s ifo business confidence survey data is due. Economists forecast the business confidence index to rise to 98.2 in May from 96.8 in April. At 6.00 am ET, the Confederation of British Industry is set to issue UK Distributive Trades survey results for May. The retail sales balance is seen rising to 30 percent in May from 20 percent in April.

At 8.00 am ET, Hungary’s central bank announces its interest rate decision. The bank is seen holding the rate at 0.60 percent.

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