2022.04.2904:02:00UTC+00European Economics Preview: Eurozone GDP Data Due

First quarter national accounts for the euro currency bloc as well as from several member states including Germany, France, Spain and Italy are due on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, the French statistical office Insee releases GDP data and consumer spending for March. The economy is forecast to grow 0.3 percent in the first quarter, slower than the 0.7 percent expansion seen in the preceding period.

At 2.00 am ET, import prices data from Germany is due. Import price inflation is seen at 28.6 percent in March versus 26.3 percent in February.

At 2.45 am ET, France statistical office Insee publishes consumer and producer prices. Consumer price inflation is forecast to remain unchanged at 4.5 percent in April.

At 3.00 am ET, Spain's INE releases quarterly GDP and retail sales data. Economists expect the economic growth to slow to 0.5 percent in the first quarter from 2.2 percent in the fourth quarter of 2021.

At 4.00 am ET, quarterly national accounts data from Germany and Italy are due. The largest eurozone economy is forecast to grow 0.1 percent in the first quarter, reversing a 0.3 percent fall a quarter ago. Italy's GDP is expected to fall 0.2 percent after an expansion of 0.6 percent.

Also, monetary aggregates data is due from the European Central Bank.

At 5.00 am ET, Eurostat is set to release flash GDP and inflation figures. The eurozone is expected to log a steady growth of 0.3 percent in the first quarter. Inflation is expected to climb further to another record 7.5 percent in April from 7.4 percent in March.