EUR is waiting for “Eurozone revised GDP” on Thursday… What to expect?

December 4, 2017

Besides the NFP release this Friday, there is an important market data release this Thursday for EURO.

EUR is waiting for “Eurozone revised GDP” on Thursday… What to expect?

This article is originally referred from Orbex Market Preview

The week ahead will be busy as economic releases for the month are lined up across the board.

Of course, the major highlight of the week will be the jobs report from the U.S. Friday’s nonfarm payrolls report will be the final report ahead of the Fed’s meeting coming up later this month.

The central bank is expected to push ahead with another interest rate hike.

Elsewhere, data from the Eurozone will see the release of the final revised GDP figures.

No changes are expected and this could confirm that the Eurozone GPD grew at a pace of 0.6% on the quarter. In the UK, the monthly PMI’s from manufacturing, services and construction sectors will be released.

Eurozone revised GDP in focus

Data from the Eurozone this week will primarily focus on the PMI data from the services and manufacturing sector.

However, the week will be dominated by the GDP numbers due to come out on Tuesday. According to preliminary forecasts, the Eurozone GDP is expected to be revised down slightly.

Economists polled expect the Eurozone GDP to rise 0.5% during the third quarter, down from the initial estimates of 0.6% for the quarterly basis.

On an annualized basis, Eurozone annual GDP rate is expected to rise 2.4%, down from 2.5% according to the previous estimates.

Later in the week, the retail sales figures will be followed by the regional industrial production numbers from Germany and France.

Original Source: Orbex Market Preview

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