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European Economics Preview: Germany Ifo Business Confidence Data Due

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Business confidence from Germany and retail sales data from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales data for February. Sales are forecast to grow 0.6 percent on month, slower than the 1.9 percent increase in January.

In the meantime, household lending and producer price figures are due from Statistics Sweden.

At 4.00 am ET, Spain’s INE releases revised quarterly GDP and producer prices data. According to flash estimate, the economy grew 2 percent sequentially in the fourth quarter, slower than the 2.6 percent growth seen in the third quarter.

At 5.00 am ET, Germany’s ifo business confidence survey results are due. The business confidence index is forecast to fall to 94.2 in March from 98.9 in the prior month.

In the meantime, the European Central Bank releases eurozone monetary aggregates data for February. M3 money supply is forecast to grow 6.3 percent annually, slightly slower than the 6.4 percent rise in January.

Also, Italy’s business and consumer confidence survey results are due. The business sentiment index is seen at 111.7 in March versus 113.4 in February. Similarly, the consumer confidence index is forecast to fall to 108.3 from 112.4 a month ago.

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