Europe Economics Preview: U.K. GDP Data Due

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Revised fourth quarter GDP results from the U.K. and inflation data from the eurozone are due on Friday, headlining a busy day for European economic news.

At 2:00 am ET, the Nationwide Building Society is scheduled to release house price data for the U.K. Economists expect house prices to rise 0.4% on a monthly basis in February, slowing from the 1.2% increase in the previous month.

Balance of payments statistics for December are due from the Bank of Spain at 3:00 am ET. A current account deficit of EUR 4.7 billion was recorded in November.

A flash estimate of the harmonized index of consumer prices is also due at the same time from the Spanish statistical office. The annual HICP inflation rate is seen at 1.1% in February - the same as in January.

Hungary's central statistical office is slated to issue unemployment data at 3:00 am ET. The unemployment rate is seen at 10.6% in January, up from 10.5% in December.

At 3:30 am ET, Statistics Denmark is expected to release GDP results for the fourth quarter. The Danish economy is tipped to contract 0.1% sequentially, after the 0.6% growth in the previous quarter.

In the meantime, retail sales statistics for January are due from Statistics Sweden. Retail sales are forecast to rise by 0.8% on a monthly basis and by 3.9% on a yearly basis.

Trade data for January is also due simultaneously from the statistical office, with the trade surplus seen at SEK 8 billion, up from SEK 5 billion in the prior month.

At 4:30 am ET, the U.K.'s Office for National Statistics is set to issue revised fourth quarter GDP results. Economists expect GDP growth to be revised up to 0.2% from the preliminary 0.1%. On a yearly basis, the economy is seen contracting 3.1%.

Revised inflation data is due from the eurozone statistical agency Eurostat at 5:00 am ET. The year-on-year HICP rate is seen at 1% in January, up from the preliminary estimate of 0.9%.

Elsewhere, the Italian statistical office is scheduled to release producer price inflation data for January. Economists forecast the producer price index to rise 0.4% on a monthly basis but fall 0.4% on a yearly basis.

At 5:30 am ET, Switzerland's KOF institute is set to release the Swiss economy's leading indicator. The index is tipped to rise to 1.80 in February from 1.77 in January.

Revised fourth quarter GDP results from the U.K. and inflation data from the eurozone are due on Friday, headlining a busy day for European economic news. (Market News Provided by RTTNews)