European Economic News Preview: Eurozone Final Composite PMI Data Due
Final composite Purchasing Managers’ survey results from the euro area and the UK and factory orders from Germany are due on Wednesday, headlining a busy day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany’s factory orders data for February. Orders are forecast to grow 0.3 percent on a monthly basis, but slower than the 1.0 percent gain in January.
In the meantime, industrial output from Norway and foreign trade figures from Denmark are due.
At 2.45 am ET, France’s statistical office Insee releases industrial production for February. Economists expect output to grow 0.5 percent month-on-month, in contrast to the 1.9 percent decrease in January.
At 3.00 am ET, Spain’s INE is set to issue industrial production for February. Output is expected to fall 0.1 percent annually, slower than the 0.4 percent increase in January.
Also, retail sales data from the Czech Republic is due.
At 3.15 am ET, S&P Global publishes Spain services and composite Purchasing Managers’ survey data. The services PMI is forecast to rise to 57.5 from 56.7 in the previous month.
At 3.45 am ET, Italy’s services and composite PMI survey data is due. Economists expect the services index to improve to 53.2 in March from 51.6 a month ago.
Thereafter, final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.
At 4.00 am ET, S&P Global publishes euro area final composite PMI data. The final reading is seen at 54.1, unchanged from the flash estimate.
At 4.30 am ET, UK S&P/CIPS final services PMI data is due. The index is forecast to drop to 52.2 in March, as initially estimated, from 53.1 in February.
At 5.00 am ET, Italy’s Istat publishes retail sales data for February. Sales had increased 1.7 percent on month in January.
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