E.U Economics Preview: UK GDP Data Due

Monthly GDP, industrial production and foreign trade figures are due from the UK on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP data. The economy is forecast to grow 2.2 percent on month in April, following a 2.1 percent rise in March.

The visible trade deficit is seen at GBP 12.1 billion compared to -GBP 11.7 billion in March. Economists expect UK industrial output to grow 1.2 percent on month in April, slower than the 1.8 percent increase in the previous month. At 3.00 am ET, Spain’s INE publishes final consumer price data for May. In the meantime, industrial production and retail sales from Turkey are due.

At 4.00 am ET, Italy’s Istat releases quarterly unemployment data.

At 6.30 am ET, Russia’s central bank announces its interest rate decision. Economists expect the bank to lift its key rate to 5.50 percent from 5.00 percent.

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