2021.01.1504:11:00UTC+00European Economics Preview: UK GDP Data Due

Monthly GDP, industrial production and foreign trade figures from the UK are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial and construction output and external trade data. The economy is forecast to contract 5.7 percent on month in November, in contrast to a 0.4 percent rise in October.

The UK visible trade deficit is seen at GBP 10.17 billion in November versus GBP 12 billion in October. Economists forecast industrial and construction output to gain 0.5 percent each in November.

At 2.45 am ET, the French statistical office Insee is scheduled to issue final consumer price figures. Prices are forecast to remain flat on year in December following a 0.2 percent rise in November. At 3.00 am ET, Spain's INE releases final consumer and EU harmonized price data for December. Consumer prices are forecast to fall 0.5 percent annually, as initially estimated.

Half an hour later, Statistics Sweden is slated to release consumer prices for December. Inflation is expected to double to 0.4 percent from 0.2 percent in November.

At 5.00 am ET, Eurostat publishes euro area foreign trade data for November. The trade surplus is seen falling to EUR 26 billion from EUR 30 billion in October.