European economic overview: German unemployment data expected

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Unemployment in Germany and flash consumer prices in the euro zone are due on Tuesday, headlining a busy day for European economic news.

At 2:45 a.m. ET, INSEE publishes revised data on GDP, flash consumer prices and harmonized consumer prices, household consumption and producer prices. Consumer price inflation is estimated at 5.0% in May against 4.8% in April.

At 3:00 a.m. ET, the Federal Statistical Office publishes Swiss GDP data for the first quarter. The economy is expected to grow 0.3% sequentially.

At 3:55 a.m. ET, the Federal Labor Agency is expected to release German unemployment figures for the month of May. The unemployment rate should remain unchanged at 5.0%.

At 4:00 a.m. ET, Italy’s revised GDP data for the first quarter is due.

Half an hour later, the Bank of England is expected to release mortgage approvals data for April. The number of mortgages approved in April is expected to fall to 69,000 from 70,690 in March.

At 5:00 a.m. ET, Eurostat is expected to release HICP flash data. Inflation is expected to reach a record 7.7% in May from 7.4% in April.

Meanwhile, flash consumer data and Italy’s harmonized prices for the month of May. Consumer price inflation is estimated at 6.2%, compared to 6.0% in April.

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