European Economics Preview: German External Trade Data Due

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Trade data from the United Kingdom and Germany are due on Wednesday, headlining a busy day for European economic news. UK Chancellor Alistair Darling is expected to present his pre-budget statement.

Germany's Federal Statistical Office is expected to release revised consumer price inflation figures for November at 2:00 am ET. Economists expect the preliminary estimate to be confirmed, with consumer prices rising 0.3% annually. On a monthly basis, the decline is seen at 0.2%.

Germany's trade data for October is also due from the statistical office at the same time. The trade balance is forecast to log a surplus of EUR 10.7 billion, marginally higher than the EUR 10.6 billion surplus in the preceding month.

At 2:45 am ET, the French Customs Office is slated to issue trade data for October, with the trade deficit seen at EUR 2.3 billion, larger than the EUR 1.8 billion last month.

Consumer price inflation data is due from the Czech Statistical Office at 3:00 am ET. Year-on-year, consumer prices are expected to rise 0.4% in November, rebounding from the 0.2% decrease in the prior month. On a monthly basis, prices are expected to be flat.

At the same time, the final third quarter GDP results are also due from the Czech statistical office. Preliminary estimates showed that the economy grew 0.8% sequentially in the third quarter. Revised third quarter GDP results are also due from the Hungarian statistical office.

Trade statistics for October are due from Hungary's Central Statistical Office at 3:00 am ET. The trade balance is tipped to register a surplus of EUR 309 million, down from the EUR 477.1 million in the previous month. Retail sales figures for October are due from the Romanian statistical office at the same time.

At 3:30 am ET, the Statistics Denmark is scheduled to release trade figures for October. Economists forecast the trade surplus to shrink to DKK 4.4 billion from DKK 4.6 billion in the previous month.

Simultaneously, a slew of statistical reports are due from Sweden. Industrial output is forecast to rise 0.9% month-on-month in October, faster than the 0.2% increase in the previous month. Year-on-year, industrial production is expected to drop 12.5%. Industrial new orders and activity reports are also due from the statistical agency.

At 4:30 am ET, trade data is due from the UK's Office for National Statistics. Economists forecast the Non-EU trade deficit to narrow to GBP 3.5 billion from GBP 3.78 billion in the previous month. The overall visible trade deficit is expected at GBP 6.85 billion.

At 7.30am ET, UK Chancellor Alistair Darling is expected to present his pre-budget statement. Darling is expected to announce a tax on the bonuses paid by banks.

Trade data from the United Kingdom and Germany are due on Wednesday, headlining a busy day for European economic news. UK Chancellor Alistair Darling is expected to present his pre-budget statement. (Market News Provided by RTTNews)