Preliminary GDP estimates from the euro area and various European economies, along with the budget announcement from the United Kingdom, are scheduled for release on Wednesday.
At 2:30 AM Eastern Time, France's statistical office, INSEE, will publish preliminary figures for GDP and consumer spending. The second-largest economy in the euro area is projected to grow by 0.3% in the third quarter, up from a 0.2% increase in the previous quarter. At 4:00 AM ET, Spain is set to release its preliminary GDP and inflation data. The gross domestic product is expected to show a growth rate of 0.6%, slightly down from the 0.8% expansion seen in the second quarter. Economists anticipate that consumer price inflation will rise to 1.7% in October, compared to 1.5% in September.
At 4:55 AM ET, Germany will release its unemployment data. The unemployment rate is expected to increase to 6.1% in October from 6.0% in September.
At 5:00 AM ET, Italy's statistical office, ISTAT, will publish its GDP data for the third quarter, with growth anticipated to slow to 0.7% from the previous 0.9%.
At 6:00 AM ET, Eurostat will release the euro area's preliminary GDP data, with steady growth of 0.2% expected for the third quarter.
Additionally, the Eurozone economic sentiment survey results will be published. The economic sentiment indicator is expected to rise to 96.4 in October, compared to 96.2 the previous month. At 8:30 AM ET, the UK Chancellor of the Exchequer is scheduled to present the Autumn Budget 2024 to Parliament.
Finally, at 9:00 AM ET, Germany's statistical office, Destatis, will issue the preliminary figures for consumer and harmonized prices in October. Consumer price inflation is anticipated to rise to 1.8% from 1.6% in September.
