European Economics Preview: Eurozone Economic Sentiment Data Due

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European Economics Preview: Eurozone Economic Sentiment Data Due

Economic confidence data from Eurozone and preliminary inflation figures from Germany are the major statistical reports due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Germany's Federal Statistical Office is scheduled to issue wholesale turnover figures for the fourth quarter and 2011.

Spain's statistical office INE is slated to release GDP figures for the fourth quarter at 3.00 am ET. According to the estimates of the Bank of Spain, the economy shrank 0.3 percent sequentially in the fourth quarter.

The Italian government is set to hold a debt auction at 5.00 am ET. It aims to raise up to EUR 8 billion. Late Friday, Fitch downgraded Spain's long-term debt rating to 'A' from 'AA-'.

The auction includes bonds maturing on March 2022 and other two maturing on April 2016 and March 2021. A new bond maturing in May 2017 is also slated for the day.

The European Commission is set to publish monthly economic sentiment survey results at 5.00 am ET. Eurozone economic confidence is seen rising to 93.8 in January from 93.3 in December. Likewise, business sentiment is forecast to improve to -0.25 from -0.31 a month ago.

Germany's preliminary inflation figures for January are due later today. Economists forecast harmonized annual inflation to rise to 2.4 percent in January from 2.3 percent in December. On a monthly basis, the harmonized index of consumer prices is forecast to drop 0.4 percent.

EU leaders and finance ministers are set to meet in Brussels today. The informal meeting will discuss the steps to be taken by the EU in order to overcome the current debt crisis and tackle its consequences.

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European Economics Preview: German Unemployment Data Due

Unemployment figures from Germany and Eurozone and mortgage approvals from the U.K. are the major statistical reports due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Federal Statistical Office is scheduled to issue German retail sales figures for December. Economists forecast retail sales to rise 0.8 percent month-on-month after easing 1 percent in November.

French consumer spending and producer prices are due at 2.45 am ET. Consumer spending is forecast to rise 0.2 percent month-on-month after falling 0.1 percent in November. Producer price inflation is seen slowing to 4.7 percent annually in December from 5.6 percent in November.

Spain's flash HICP and Hungary's PPI and unemployment reports are due at 3.00 am ET. Economists forecast Spanish inflation to slow slightly to 2.3 percent in January from 2.4 percent in December.

The Federal Labor Agency is set to release German unemployment data at 3.55 am ET. The number of unemployed is forecast to fall by 10,000 in January. The seasonally adjusted jobless rate is seen stable at 6.8 percent.

At 4.00 am ET, Norway's retail sales and C2 credit indicator figures are due. Retail sales growth is seen at 2.2 percent annually, faster than the 0.9 percent increase in November.

The Bank of England is set to publish mortgage approvals figures at 4.30 am ET. The number of mortgage approvals is seen at 54,000 in December compared to 52,900 in November. M4 money supply data is also due at the same time.

Eurozone jobless data for December is due from Eurostat at 5.00 am ET. The unemployment rate is forecast to rise to 10.4 percent from 10.3 percent in November.

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