2023.06.0105:41:00UTC+00European Economic News Preview: Eurozone Flash Inflation Data Due

Flash inflation from the euro area and house prices from the UK are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to fall 0.5 percent on month in May, offsetting a 0.5 percent rise in April.

In the meantime, Destatis is scheduled to issue Germany retail sales for April. Economists expect sales to rise 1.0 percent on a monthly basis, in contrast to the 2.4 percent fall in March.

At 3.15 am ET, Spain's manufacturing PMI data is due. Economists expect the index to fall to 47.8 in May from 49.0 in April.

At 3.45 am ET, S&P Global releases Italy's HCOB manufacturing PMI for May. The index is forecast to drop to 45.6 from 46.8 in April.

At 3.50 am ET, France's final manufacturing PMI is due. The index is seen rising to 46.1 in May, as estimated, from 45.6 in the previous month.

At 3.55 am ET, Germany's final manufacturing PMI is due. Economists expect the index to fall to 42.9 in May, as initially estimated, from 44.5 in the prior month.

At 4.00 am ET, S&P Global publishes euro area final factory PMI data. The index is seen at 44.6, in line with flash estimate, down from 45.8 a month ago.

Half an hour later, the Bank of England releases UK mortgage approvals data for April. Mortgage approvals are seen at 54,000 compared to 52,010 in March.

At 5.00 am ET, Eurostat publishes euro area final inflation data for May. Inflation is forecast to ease to 6.3 percent from 7.0 percent in April.

At 7.30 am ET, the European Central Bank is set to issue the account of the monetary policy meeting of the Governing Council held on May 3 and 4.