2021.02.0304:16:00UTC+00European Economics Preview: Eurozone Flash Consumer Prices, Final PMI Data Due

Flash consumer prices and final composite Purchasing Managers' survey results are due from euro area on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Turkish Statistical Institute releases consumer and producer price figures for January. Economists expect inflation to rise to 14.68 percent from 14.6 percent in December.

At 3.15 am ET, IHS Markit releases Spain's services PMI data. The index is seen at 45.3 in January, down from 48.0 in December.

At 3.45 am ET, Italy's services PMI data is due. The services index is expected to fall to 39.5 in January from 39.7 a month ago.

Thereafter, final PMI figures are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 3.55 am ET, Iceland's central bank is set to announce its interest rate decision.

At 4.00 am ET, IHS Markit publishes euro area composite PMI survey results. The final reading is seen at 47.5 in January, unchanged from flash estimate.

At 4.30 am ET, UK final composite PMI data is due. According to flash estimate, the composite index fell sharply to an eight-month low of 40.6 in January from 50.4 in December.

At 5.00 am ET, Eurostat publishes euro area flash consumer and producer price figures. Economists forecast consumer prices to rise 0.5 percent annually in January, in contrast to a fall of 0.3 percent in December.

Also, at 5.00 am, Italy's Istat releases flash consumer price figures for January. Consumer prices are forecast to drop 0.1 percent annually after easing 0.2 percent in December.