European Economics Preview: U.K. Public Finance Data Due

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Public finance and money supply data from the U.K. are due on Tuesday. All times in ET.

Major economic news released on Monday were largely negative, with the eurozone's current account widening, while construction output in the region dropped. Elsewhere, international ratings agency Moody's downgraded the Republic of Ireland's debt by one notch, citing weak growth prospects and deteriorating public finances.

At 3:30 am, the Dutch statistical office is scheduled to release consumer spending data for May. Spending had risen 0.2% year-on-year in April. Consumer confidence data for July is also due from the statistical office at the same time. The indicator was at -18 in June.

At 4:00 am, the Italian statistical office is slated to release industial orders data for May. Economists expect new orders to rise by 0.2% on a monthly basis and by 19.2% on a yearly basis.

Money supply data for June is due from the Bank of England at 4:30 am. M4 money supply is forecast to rise by 2.9% on a yearly basis but fall 0.1% on a monthly basis.

The U.K.'s Office for National Statistics is expected to release the country's public finance data for June simultaneously. Public sector net borrowing is expected to be GBP 13 billion, down from GBP 16 billion in the prior month.

At 5:00 am, Croatia's statistical office is set to release unemployment data for June. The unemployment rate was at 17.2% in May.

Non-E.U. trade data for June is due from the Italian statistical office at the same time. A non-E.U. trade deficit of EUR 1.42 billion was recorded in May.

At 5:30 am, the Bank of England is scheduled to release its latest trends in lending report.

Finally at 6:15 am, the Confederation of British Industry is expected to release the results of its latest quarterly industrial trends survey. (Provided by RTTNews)