Economic indicators in focus as Germany and UK report key data

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Story Highlight

– UK retail sales expected to rise 1.2% in June.
– German business confidence forecasted to increase to 89.0.
– France’s consumer sentiment projected unchanged at 88 in July.
– ECB to release monetary aggregates; M3 growth forecast 3.7%.
– Russia’s central bank anticipated to cut interest rate sharply.

Full Story

BRUSSELS – Significant economic data releases are on the agenda for Friday in Europe, particularly concerning Germany’s business confidence and UK retail sales.

At 2.00 am ET, the Office for National Statistics will publish the June retail sales figures for the UK. Analysts anticipate a month-on-month growth of 1.2% for June, a recovery from the previously recorded decline of 2.7% in May.

Following this, at 2.45 am ET, France’s INSEE will unveil results from its consumer sentiment survey, with expectations that the confidence indicator will hold steady at 88 for July.

Germany’s ifo Institute is set to release its business confidence survey at 4.00 am ET, with predictions suggesting that the index will increase to 89.0 for July, up from 88.4 the previous month.

Additionally, the European Central Bank is expected to provide insights into monetary aggregates for June, with M3 projected to rise by 3.7% year-on-year, which is a slight slowdown from the 3.9% increase noted in May.

Finally, at 6.30 am ET, the central bank of Russia will announce its monetary policy decision, with economists predicting a notable reduction in the interest rate from 20.0% to 18.00%.