European Economics Preview: SNB Rate Decision Due
The interest rate decision from the Swiss National Bank, Purchasing Managers' survey results from Eurozone and retail sales from the U.K. are due on Thursday, headlining a hectic day for the European economic news.
At 3.00 am ET, Markit Economics is set to publish French flash purchasing managers' survey results. The manufacturing PMI is forecast to fall to 47 and the services PMI to 49 in December.
In the meantime, Turkey's unemployment and Czech producer prices are due. Economists forecast the jobless rate to rise to 9.5 percent in September. At the same time, Czech producer price inflation is expected to ease to 5.2 percent in November from 5.6 percent in October.
The Federal Statistical Office is slated to release Swiss industrial output for the third quarter at 3.15 am ET. Economists forecast industrial production to drop 0.9 percent sequentially after rising 3.6 percent in the prior quarter.
The Swiss National Bank is set to announce its interest rate decision at 3.30 am ET. The SNB is expected to maintain its three-month Libor at zero.
Germany's flash PMI is also due at 3.30 am ET. The manufacturing PMI is seen at 47.5 and the services PMI at 50 in December.
Half an hour later, Eurozone flash PMI is due. The composite PMI is forecast to ease to 46.5 in December from 47 a month ago. In the meantime, the European Central Bank is set to publish monthly bulletin.
At 4.30 am ET, the Office for National Statistics is scheduled to issue U.K. retail sales. Retail sales are forecast to fall 0.3 percent month-on-month after rising 0.6 percent in October.
Eurozone final inflation and employment reports are due at 5.00 am ET. Eurozone inflation is seen at 3 percent in November, unchanged from flash estimate.
The Confederation of British Industry is scheduled to release Industrial Trends survey results at 6.00 am ET. The total order book balance is forecast to fall to -20 from -19 in November.
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