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Fourth quarter gross domestic product results from Europe's major economies are due on Friday, underlining a hectic day for European economic news.
At 2:00 am ET, Germany's Federal Statistical Office is set to release fourth quarter GDP data. On a sequential basis, the economy is forecast to expand 0.2% in the December quarter, compared to the 0.7% growth in the previous quarter. The GDP is expected to contract 2.2% on an annual basis, slower than the 4.8% decrease reported in the preceding quarter.
France's quarterly national accounts report is due at 2:45 am ET. The French economy is tipped to expand 0.5% sequentially in the December quarter, faster than the 0.3% increase in the September quarter. On a yearly basis, GDP is expected to shrink 0.3% following the 2.3% contraction in the prior quarter.
At 3:00 am ET, fourth quarter's GDP results are due from the Czech Statistical Office. Economists expect the Czech economy to contract 2.7% annually, slower than the 4.1% decrease in the previous quarter.
Current account data is due from the Czech National Bank at the same time. The current account deficit is forecast to widen to CZK 9 billion in December from CZK 1.61 billion in November.
Elsewhere, Spain's final consumer price inflation figures for January are due. The consumer price index is expected to rise 1% on a yearly basis but fall 1% on a monthly basis.
The Romanian statistical office is scheduled to issue GDP data for the fourth quarter at 3:00 am ET. The Romanian economy is forecast to contract 6% annually, after the 7.1% shrinkage in the previous quarter.
Also due at the same time from the statistical office, is industrial production data for December along with consumer price inflation figures. Romania's consumer price index is tipped to rise 4.8% on a yearly basis in December while the monthly inflation rate is seen at 1.2%. Consumer price inflation data is also due from the Hungarian statistical office.
At 3:30 am ET, fourth quarter GDP results are due from the Netherlands' Central Bureau of Statistics. The Dutch economy is tipped to expand 0.5% quarter-on-quarter.
Half an hour later, gross domestic product data is due from the Italian statistical office ISTAT. The Italian economy is forecast to expand 0.1% in the fourth quarter compared to the third quarter, following the 0.6% increase in the previous quarter. On a year-over-year basis, the GDP is expected to contract 2.6%.
At 5:00 am ET, the Eurozone's GDP figures are due. The Eurozone economy is widely expected to expand 0.3% sequentially in the fourth quarter, adding to the 0.4% growth in the third quarter. On a yearly basis, the GDP is expected to fall 1.9%.
Industrial production data for December is also due at the same time from Eurostat. Economists expect industrial production to rise 0.1% on a monthly basis but fall 1.7% on a yearly basis.
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