Wednesday, May 30, 2007

European Economic News Preview Thursday, Wednesday, May 30, 2007 2:33:48 PM

A flurry of data is due out of the Europe on Thursday. The reports will come from Switzerland with its GDP data, Germany with Unemployment Change, the UK with its Nationwide House Prices and the Euro zone with its Consumer Confidence survey. France is also set to chime in with its Producer Price Index for April and Consumer Confidence Indicator for May. Italy will be reporting on its Large Company Employment and the Bank of Italy will hold its annual general assembly. Consumer Price Index data will also be released from the area.

Switzerland will report on its Gross Domestic Product for its first quarter on Thursday. The previous quarter showed a rate of 0.5%, and is expected to edge up in tomorrow`s data. The year ago period came in at 2.2%, and is anticipated to remain unchanged.

Germany will report on its Unemployment Change for May on Thursday. Previously, the numbers came in at -9K for the unadjusted period, and are expected to widen in tomorrow`s data. On a seasonally adjusted basis, the prior month`s rate was 9.2%, and is expected to edge down slightly. Other news from the country on Thursday will include the German ILO Unemployment Rate for April.

Great Britain will announce its Nationwide House Prices for May on Thursday. The previous month`s rate on a seasonally adjusted basis came in at 0.9% and is expected to slip slightly in tomorrow`s data. On an unadjusted and annual basis, the prior rate was 10.2% and is forecast to advance. Other news from the UK will include the M4 Money Supply, Sterling Lending and Net Consumer Credit and Net Lending Secured on Dwellings for April. Mortgage Approvals will also be announced. For May, the CBI May Distribute Trades Report for the month will be posted, as well as the CBI May Distribute Trades Report expected survey for June.

The Euro zone will be reporting on its Consumer Confidence Survey data for May on Thursday. The previous survey showed a level of -4, and is expected to remain the same in tomorrow`s data. Other news from the area will include a number of surveys; the Business Climate, Economic Confidence, Industrial Confidence and the Services Confidence. The Consumer Price Index`s flash estimate for the area for May will be reported as well.
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