| European Economics Preview: Eurozone Economic Sentiment Expected To Rise |
| Written by RTT News |
| Thursday, 28 January 2010 15:08 |
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(RTTNews) - Economic sentiment survey results from the Eurozone and unemployment data from Germany are due on Thursday, headlining a busy day for European economic news. At 3:00 am ET, Spain's National Statistics Institute is scheduled to release harmonized consumer price data for January. Year-on-year, the harmonized consumer price index is expected to rise 1.2%, faster than the 0.9% increase in the previous month. Swedish consumer sentiment survey results are due from the National Institute of Economic Research or NIER at 3:15 am ET. The consumer sentiment index is expected to rise to 8.8 in January from 7.6 in the previous month. The manufacturing confidence index is tipped to rise to minus 7 from minus 9, while the economic sentiment index is seen at 102, up from 101.6. At 3:30 am ET, Italian think-tank ISAE is slated to issue business sentiment data for January. The corresponding index is forecast to rise to 83 from 82.6. Unemployment data is due at the same time from Statistics Denmark. Economists expect the jobless rate to rise to 4.5% in December from 4.4% in the preceding month. Unemployment data is also due from Statistics Sweden at 3:30 am ET. The unemployment rate is seen at 8.3% in December, up from 8% in November. Retail sales statistics for December is also due. Retail sales are forecast to rise by 0.7% on a monthly basis and by 5.3% on a yearly basis. At 3:55 am ET, Germany's Federal Labor Agency is expected to issue unemployment figures for January. The number of unemployed is forecast to increase by 15,000, after declining 3,000 in the previous month. Unemployment data for January is due from Norway's Labor and Welfare Organization at 4:00 am ET. The jobless rate is tipped to rise to 3.1% from 2.7%. At 5:00 am ET, the European Commission is scheduled to issue its economic sentiment survey results for the Eurozone. The economic sentiment indicator is expected to rise to 92.3 in January from 91.3 in December. According to flash estimate published on January 22, consumer confidence stood at minus 15.8 in January compared to minus 16.1 in December. Now, economists expect the index to rise to minus 15 in January. Further, the business climate index is expected to improve to minus 1.1 from minus 1.22, and the industrial sentiment index to minus 15 from minus 16. |