European Economics Preview: U.K. Retail Sales Data Due

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Friday, retail sales from the U.K. and current account data from the Eurozone are expected to dominate the scene.

At 2:00 am ET, Germany's Federal Statistical Office is scheduled to release producer price inflation figures for January. Economists expect the producer price index to rise 0.3% on a monthly basis but fall 4% on a yearly basis.

In the meantime, average gross wage data is due from Hungary's Central Statistical Office. The wage index is forecast to slump 2.3% year-on-year in December, following the 3% decrease in November.

At 2:45 am ET, the French statistical office is slated to issue business confidence data for February. The business confidence index is seen at 93, up from previous month's 92 points.

The release of the Flash Purchasing Managers' Index reports for major Eurozone economies is set to start at 3.00 am ET. The first one expected to hit the wires is the Flash French PMI for both manufacturing and service sectors. The manufacturing PMI is forecast to fall slightly to 55.3 in February, while the services PMI is expected to rise to 56.4 from 56.3.

Thereafter, Flash German PMI data is due at 3.30 am ET. Economists expect manufacturing PMI to climb to 53.8 in February from 53.7, while the services PMI is seen at 52.4, up from 52.2.

At 4:00 am ET, the Eurozone's PMI report is due. The manufacturing PMI is expected to stand at 52.7 compared to 52.4 in January, while the services PMI is forecast to remain at 52.5.

The Eurozone's balance of payments for December is due at the same time from the European Central Bank. A current account surplus of EUR 0.1 billion was registered in November.

Elsewhere, industrial new orders data is due from the Italian statistical office ISTAT. Economists expect new orders to fall 0.5% month-on-month in December after the 2.6% increase in the preceding month.

Finally at 4:30 am ET, the U.K.'s Office for National Statistics is expected to release retail sales data for January. Retail sales are tipped to rise 1.1% on a yearly basis but fall 0.5% on a monthly basis.

Friday, retail sales from the U.K. and current account data from the Eurozone are expected to dominate the scene. (Market News Provided by RTTNews)