At 2.00am ET, the German statistical office is set to issue the second quarter GDP report. The economy is expected to contract at a slower pace of 0.2% sequentially in the second quarter, following a 3.8% decline in the first quarter. The Finnish wage and salary indices data for June is also slated at the same time.
At 2.45am ET, the French statistical office INSEE is scheduled to release the quarterly national accounts. After contracting 1.2% in the first quarter, economists forecast the French GDP to shrink 0.3% quarter-on-quarter.
Thereafter, a slew of statistical reports are due at 3.00am ET. The National Institute of Statistics is slated to issue Spanish CPI data. Consumer prices are expected to drop 1.4% annually in July compared to a 1% fall in June. Meanwhile, the Czech retail sales is due from the Czech Statistical Office. Retail sales are forecast to grow 4.5% annually in June, following a 7.5% drop in May. Meanwhile, Austrian GDP is also due.
At 3.15am ET, Switzerland’s Federal Statistical Office is set to report producer and import prices details for July. Producer and import prices are now predicted to edge up 0.1% month-on-month in July after staying flat in June.
At 3.30am ET, reports due from Netherlands are Q2 GDP and trade balance. The Dutch economy is expected to shrink 0.7% in the second quarter compared to a 2.6% decline in the first quarter. In the meantime, Statistics Sweden is slated to issue industrial production and orders for June.
Half an hour later, the European Central Bank is set to release its Monthly Bulletin.
At 5.00am ET, the Eurostat is scheduled to issue GDP details for the second quarter. Eurozone is forecast to contract at a slower pace of 0.5% sequentially in the second quarter compared to 2.5% decrease in the first quarter. Annually, the decline is seen at 5.1%.
In the meantime, the Iceland central bank is set to announce its interest rate decision.
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