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(CEP News) - On Tuesday, UK economic data will dominate the European session with the release of industrial and manufacturing production data for August. Markets will also pay attention to German factory orders.
The first release of the day will be UK industrial production. The consensus expects it to decline 0.2% in August, a drop from the previous month's 0.4% decline. In year-over-year figures, it is forecast to decline 2.0%, deepening the prior month's 1.9% loss. Meanwhile, UK manufacturing production in August is forecast to remain unchanged from the prior 0.2% drop. Annualized manufacturing production is expected to fall 1.6% following a 1.4% decline in July. German factory orders will be the most important data release on Tuesday. Orders' levels are expected to rebound 0.5% month-over-month in August following July's 1.7% decline. In non-seasonally adjusted terms, factory orders are forecast to have fallen 4.7% in the twelve months to August, down significantly from July's 0.7% contraction. Shortly prior to the data release, the ECB's Vítor Manuel Ribeiro Constâncio is expected to speak at a conference about the current situation in financial markets. However, markets will be especially interested hear what ECB President Jean-Claude Trichet has to say about the current global crisis. He is scheduled to deliver a keynote speech at the World Policy Conference organized by Ifri (French Institute of International Relations) in Evian, France. 4:30 GB Industrial Production (M/M) August Exp: -0.2% Prior: -0.4% 4:30 GB Industrial Production (Y/Y) August Exp: -2.0% Prior: -1.9% 4:30 GB Manufacturing Production (M/M) August Exp: -0.2% Prior: -0.2% 4:30 GB Manufacturing Production (Y/Y) August Exp: -1.6% Prior: -1.4% 4:30 EU ECB's Constancio Speaks at Conference on Financial Situation 6:00 DE Factory Orders (M/M) (SA) August Exp: +0.5% Prior: -1.7% 6:00 DE Factory Orders (Y/Y) (NSA) August Exp: -4.7% Prior: -0.7% 9:30 EU ECB's Trichet Speaks in Evian, France 19:01 GB Nationwide Consumer Confidence September Exp: +49 Prior: +52 19:01 GB NIESR GDP Estimate September Prior: -0.2% By Steve Stecyk,
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, edited by Nancy Girgis,
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