2021.07.3005:27:00UTC+00European Economics Preview: Eurozone GDP, Inflation Data Due

Flash quarterly national accounts and inflation reports are due from euro area and other major Eurozone economies on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, France's statistical office Insee publishes GDP data for the second quarter. The economy is forecast to grow 0.8 percent sequentially, reversing a 0.1 percent drop in the first quarter.

At 2.45 am ET, flash consumer price data is due from France. Economists expect consumer price inflation to slow to 1 percent in July from 1.5 percent in June.

At 3.00 am ET, Spain preliminary GDP data is due. Economists forecast the GDP to climb 2.2 percent sequentially in the second quarter, in contrast to the 0.4 percent drop in the preceding period.

In the meantime, the Czech Statistical Office releases preliminary GDP data. The economy is forecast to grow 2 percent on quarter, in contrast to a 0.3 percent drop in the first quarter.

Also, unemployment data from Italy is due. The jobless rate is seen at 10.4 percent in June versus 10.5 percent in May.

At 4.00 am ET, Destatis publishes Germany's flash GDP data for the second quarter. GDP is expected to grow 2 percent after contracting 1.8 percent in the first quarter.

At 5.00 am ET, Eurostat is slated to issue euro area preliminary flash GDP report, flash inflation estimate and unemployment data. The currency bloc is expected to expand 1.5 percent in the second quarter, reversing a 0.3 percent drop in the prior quarter.

Consumer price inflation is expected to rise to 2 percent in July from 1.9 percent in June.

The euro area jobless rate is seen at 7.9 percent in June, unchanged from May.