European Economic News Preview: UK GDP, Mortgage Approvals Data Due

Revised quarterly national accounts and mortgage approvals from the UK and flash inflation from Germany are due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP and business investment data. The initial estimate showed that the UK economy grew 0.6 percent in the second quarter after rising 0.7 percent in the preceding period.

In the meantime, UK Nationwide house price data is due.

Also, Destatis publishes Germany’s import prices and retail sales figures. Import prices are forecast to fall 0.4 percent on month in August.

At 4.30 am ET, the Bank of England is set to issue UK mortgage approvals for August. The number of mortgage approvals is expected to rise to 64,000 after an increase of 61,999 in the prior month.

At 5.00 am ET, Italy’s ISTAT releases flash inflation data for September.

At 8.00 am ET, Destatis releases Germany’s flash inflation data for September. Economists expect inflation to slow to 1.5 percent from 1.9 percent in August.