European Economics Preview: U.K. Industrial Production Data Due

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Following the news that Australia became the first G-20 member nation to hike it's key rate earlier in the day, optimism is high for a sustained global recovery. Europe will hope to follow suit, after some of it's biggest member states including Germany and France emerged from recession according to latest GDP figures. Statistical releases from Europe scheduled for release on Tuesday include industrial production data from the United Kingdom.

New vehicle registration data for September is expected from Statistics Finland at 2.00 am ET. Vehicle registrations were down 30.3% year-on-year in August.

At 3:00 am ET, Hungary's preliminary industrial production figures for August will be released by the statistical agency. Output fell 19.4% annually in the previous month. Economists are looking for a 19% decline for August. Elsewhere, the Romanian statistical office is set to release the industrial new orders and turnover data for August at 3:00 am ET.

Switzerland's consumer price index for September is scheduled to be released at 3:15 am ET from the Federal Statistical Office. Consumer prices were down 0.8% on year in August, after falling 1.2% in July. Economists do not expect any change in the pace of decline in September. Month-on-month, the index is forecast to rise 0.1%, matching the August result.

At 3:30 am ET, Statistics Denmark is set to release industrial production numbers for August. Industrial output was up 0.3% sequentially in July. At the same time, Statistics Austria is expected to publish the wholesale price index figures for September. Wholesale prices were down 8.6% year-on-year and up 0.8% on a monthly basis in August. Further, the Swedish statistical agency is set to release the service production index for August.

At 4:30 am ET, the U.K. industrial production data for August is due from the Office for National Statistics. Industrial output is expected to rise 0.2% sequentially in August after the 0.5% increase in the preceding month. On a yearly basis, output is expected decline 8.7% after the 9.3% drop in July. Manufacturing output is forecast to rise 0.3% from July and fall 9.3% from a year ago. In July, manufacturing output had risen 0.9% month-on-month but declined 10.1% from last year. Cyprus's statistical office is set to release the Harmonized Index of Consumer Prices for September at 5 am ET. The agency is also expected to release the jobless data for September. Meanwhile, Statistics Portugal is scheduled to publish data on business turnover, employment, wage and hours worked indices in industry for August.

Luxembourg is expected to release second quarter gross domestic product data during the day.

Following the news that Australia became the first G-20 member nation to hike it's key rate earlier in the day, optimism is high for a sustained global recovery. Europe will hope to follow suit, after some of it's biggest member states including Germany and France emerged from recession according to latest GDP figures. Statistical releases from Europe scheduled for release on Tuesday include industrial production data from the United Kingdom. (Market News Provided by RTTNews)