2010.07.2902:29:00UTC+00European Economics Preview: Eurozone Economic Sentiment Data Due

Economic sentiment data from the eurozone along with unemployment data from Germany and lending data from the U.K. are due on Thursday, headlining a busy day for European economic news. All times in ET.

Major economic news released on Wednesday were mostly positive, with Spanish retail sales rebounding and German inflation rising slightly. Elsewhere, the European Central Bank unveiled a new range of premiums on the assets used as collateral by commercial lenders to borrow from the central bank.

At 2:00 am, the U.K.'s Nationwide is due to release house price data for July. House prices are forecast to rise by 7% on a yearly basis but fall 0.3% on a monthly basis.

Producer price data for June is due from the French statistical office at 2:45 am. Economists expect the producer price index to rise by 0.3% on a monthly basis and by 3.9% on a yearly basis.

At 3:00 am, the Spanish statistical office is due to release flash HICP data for July. The annual harmonized inflation is seen rising to 1.7% from 1.5% in June.

Producer price inflation data for June is due from Hungary's Central Statistical Office at the same time. The PPI is forecast to rise by 6.7% on a yearly basis, faster than the 5.5% rise in the prior month.

At 3:15 am, Sweden's National Institute of Economic Research is slated to release its economic sentiment data for July. The indicator is expected to rise to 112.7 from 112.2 in the previous month. The consumer sentiment index is seen rising to 22.1 from 22.0.

Business sentiment data for July is due from the Italian statistical office at 3:30 am. The business sentiment index is forecast to rise to 96.4 from 96.1 in the preceding month.

Retail sales data for June is due from Statistics Sweden simultaneously. Economists expect retail sales to rise by 0.6% on a monthly basis and by 3% on a yearly basis.

At 3:55 am, Germany's labor ministry is scheduled to release unemployment data for July. The number of unemployed is seen falling by 20,000, smaller than the 21,000 decrease in the previous month.

Wage data for June is due from the Italian statistical office at 4:00 am. Economists predict hourly wages to rise by 0.2% on a monthly basis and by 2.6% on a yearly basis.

At 4:30 am, the Bank of England is due to release mortgage approvals data for June. Approvals are tipped to total 48,800, down from 49,815 in May. Net consumer credit is seen rising GBP 0.2 billion and secured lending is seen climbing GBP 1 billion. The revised money supply data for June is also due from the central bank at the same time.

Eurozone economic sentiment data for July is due from the European Commission at 5:00 am. The indicator is tipped to rise to 99.1 from 98.7 in the previous month. The industrial sentiment index is seen rising to -5 from -6, while the business climate index is expected to rise to 0.39 from 0.37. The consumer sentiment index is expected to be confirmed at -14.

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