2023.07.1305:30:00UTC+00European Economic News Preview: UK GDP Data Due

Monthly GDP, industrial production and foreign trade figures from the UK and the minutes of the governing council of the European Central Bank are due on Thursday.

At 2.00 am ET, the Office for National Statistics publishes UK GDP data along with industrial production and external trade reports.

The UK economy is forecast to shrink 0.4 percent on month in May, in contrast to the 0.2 percent increase in April. Economists expect industrial output to fall 0.4 percent and manufacturing output to ease 0.5 percent. The visible trade deficit is seen at GBP 14.7 billion in May compared to GBP 14.99 billion in April.

At 2.45 am ET, France's statistical office INSEE is scheduled to issue final consumer and harmonized prices for June. The statistical office is set to confirm consumer price inflation at 4.5 percent, down from 5.1 percent in May.

At 3.00 am ET, the Czech Statistical Office releases consumer price data for June. Inflation is expected to slow to 9.8 percent from 11.1 percent in May. At 4.30 am ET, the Bank of England releases Credit Conditions Survey results.

At 5.00 am ET, Eurostat is set to publish industrial production for May. Eurozone industrial output is expected to grow 0.3 percent on month, slower than the 1.0 percent rise in April.

In the meantime, EU summer economic forecast is due.

At 7.30 am ET, the European Central Bank publishes the account of the monetary policy meeting of the governing council held on June 14 and 15.