European Economic News Preview: UK GDP Data Due

RTTNews | 7h 42min ago
Stocktwits
European Economic News Preview: UK GDP Data Due

(RTTNews) - Quarterly national accounts from the UK and final inflation from France and Italy are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP data for the third quarter and industrial output and foreign trade figures for September. The economy is forecast to grow 0.2 percent sequentially after rising 0.5 percent in second quarter. In the meantime, wholesale prices are due from Germany. Economists expect wholesale prices to gain 0.1 percent on month in October, in contrast to the 0.3 percent fall in September.

At 2.45 am ET, France's statistical office INSEE publishes final consumer and harmonized prices for October. Consumer price inflation is seen at 1.2 percent, up from 1.1 percent in September.

At 4.00 am ET, consumer and harmonized prices are due from Italy. Inflation is expected to climb to 0.9 percent in October, in line with flash estimate, from 0.7 percent in September.

At 5.00 am ET, foreign trade figures are due from Italy. The trade surplus is expected to increase to EUR 2.55 billion in September from EUR 1.43 billion in August.

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China Industrial Output Rises Less Than Forecast; Retail Sales Growth Accelerates

China Industrial Output Rises Less Than Forecast; Retail Sales Growth Accelerates

China industrial production growth slowed unexpectedly in October and the decline in property investment deepened but retail sales growth accelerated as recent stimulus measures strengthened consumer sentiment. Industrial production posted an annual growth of 5.3 percent in October after rising 5.4 percent in September, the National Bureau of Statistics said Friday.
RTTNews | 5h 10min ago
Asian Shares Mixed As Traders Pare Rate Cut Bets

Asian Shares Mixed As Traders Pare Rate Cut Bets

Asian stocks turned in a mixed performance on Friday as Federal Reserve Chair Jerome Powell's remarks poured cold water on rate cut optimism and mixed economic data highlighted China's uneven economic recovery.
RTTNews | 5h 23min ago
UK Economy Logs Meager Growth In Q3

UK Economy Logs Meager Growth In Q3

In a blow to Chancellor Rachel Reeves, the UK economy grew only marginally in the third quarter on weaker growth in services output, data from the Office for National Statistics revealed Friday. Gross domestic product grew 0.1 percent sequentially, following growth of 0.5 percent in the second quarter and was also weaker than the forecast of 0.2 percent.
RTTNews | 5h 32min ago
Yen Falls As Japan GDP Growth Slows In Q3

Yen Falls As Japan GDP Growth Slows In Q3

The Japanese yen weakened against other major currencies in the Asian session on Friday, as weak GDP data dampened expectations for more rate hikes by the Bank of Japan. Data from the Cabinet Office showed that the Japan's gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the third quarter of 2024. That was in line with expectations and down from 0.7 percent in the second quarter.
RTTNews | 6h 34min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 7h 1min ago
FDA Approves PTC's Kebilidi As First Gene Therapy To Treat AADC Deficiency

FDA Approves PTC's Kebilidi As First Gene Therapy To Treat AADC Deficiency

The U.S. Food and Drug Administration approved PTC Therapeutics, Inc.'s Kebilidi (eladocagene exuparvovec-tneq) gene therapy for the treatment of aromatic L-amino acid decarboxylase or AADC deficiency. Kebilidi is the first FDA-approved gene therapy for the deficiency. PTC shares gained around 8.5 percent in the extended trading on the Nasdaq on Thursday.
RTTNews | 8h 14min ago
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