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(CEP News) - Wednesday will be quite a busy day in Europe with the release of purchasing managers indexes (PMI) in Italy, France, Germany, the euro zone and the UK, all for the month of September. The euro zone will also receive unemployment data for the month of August.
The day kicks off with German retail sales. August retail sales are expected to rise 0.5% month-over-month, an improvement from the prior month's -1.5% figure. On a yearly basis, retail sales are forecast to decline by 2.6%. Italian PMI for September is expected to come in at a reading of 46, a drop from last month's 47.1 level. Meanwhile, the final print for French PMI in September is expected to remain unchanged at 43.6. September's final print for German PMI is also expected to remain unchanged from the prior reading of 48.1. Following the publication of regional PMIs, Markit Economics will release final manufacturing PMI data for the euro zone as a whole for September. No revisions are expected to the preliminary estimates of 45.3. Meanwhile, UK manufacturing PMI is expected to reveal a drop in September to a reading of 45.0 from August's 45.9. The focus will then shift to the release of Eurostat's report on euro zone unemployment in August. The unemployment rate is expected to remain unchanged at 7.3%. In terms of speakers, ECB President Jean-Claude Trichet is scheduled to speak in Brussels, Belgium, while EU Commissioner Charlie McCreevy will hold a news conference on bank capital proposal. 2:00 GE German Retail Sales August (M/M) Exp:+0.5% Prior:-1.5% 2:00 GE German Retail Sales August (Y/Y) Exp: -2.6% Prior: 0.0% 3:00 EU European Commission Holds Weekly Meeting 3:45 IT PMI Manufacturing September Exp: +46.0 Prior: +47.1 3:50 FR PMI Manufacturing September Final Exp:+ 43.6 Prior: +43.6 3:55 DE PMI Manufacturing September Final Exp:+ 48.1 Prior:+ 48.1 4:00 IT Trade Balance Non-Eu August Exp: -€1800.0 Prior: -€1636.0 4:00 EU PMI Manufacturing September Final Exp: +45.3 Prior: +45.3 4:30 GB PMI Manufacturing September Exp: +45.0 Prior: +45.9 4:30 GB Index of Services (3 Month/3 Month) July Exp: +0.1% Prior: +0.2% 5:00 EU Euro Zone Unemployment Rate August Exp: 7.3% Prior: +7.3% 5:00 EU Eurostat Publishes Euro-Area Unemployment 5:00 DE ECB's Trichet Speaks at Panel in Brussels 5:35 EU EU'S McCreevy Holds News Conference on Bank capital Proposal 6:00 EU European Commission Proposes Bank Capital Rule Changes 12:00 IT New Car Registrations (Y/Y) September Prior: -26.4% 13:00 IT Budget Balance September Prior: -5.8B 13:00 IT Budget Balance (Year to date) September Prior: -27.4B By Steve Stecyk,
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, edited by Nancy Girgis,
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