European Economic Preview: Eurozone Industrial Orders, PPI, Services PMI Due

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Eurozone industrial new orders, producer prices and purchasing managers' survey data for services sector are due on Wednesday.

At 3:00 am ET, Hungary's Central Statistics Office is scheduled to release unemployment data for November. The unemployment rate is seen at 10.6%, up from 10.4% in the previous month.

It is followed by the release of services PMIs of Italy, France, Germany and the Eurozone. At 3:45 am ET, Italy's Markit/ADACI services PMI is due, with the corresponding index seen at 49.8 in November.

The French Markit/CDAF services PMI follows at 3:50 am ET, with the the index expected to ease to 60.1 in December from 60.9 in November. The German services PMI comes next at 3:55 am ET, with economists expecting a reading of 53.1. The Eurozone's PMI is due at 4:00 am ET, with the index expected to rise to 53.7 from 53.

At 4:30 am ET, the UK CIPS services PMI is due. The corresponding index seen at 56.8 in December compared to 56.6 in November.

Afterwards at 5:00 am ET, Eurostat is scheduled to publish industrial new orders data for October. Year-on-year, industrial new orders are forecast to drop 11%, slower than the 16.4% decline in the previous month. On a monthly basis, new orders are tipped to fall 1%.

Producer price inflation figures for November are due from the statistical office at the same time. The producer price index is expected to decline 4.5% on a yearly basis but rise 0.2% on a monthly basis.

Industrial new orders statistics and services PMI data from the Eurozone are due on Wednesday headlining a moderate day for European economic news. (Market News Provided by RTTNews)