LONDON (AFX) - Euro zone economic figures due for release over the coming week will show inflation is easing this month after January's sharp rise to 2.5 pct, according to economists.
"After January's disappointing inflation data, this week will offer the first evidence of euro area inflation pressures in February," UBS Warburg economists said.
"Both Italy and Germany will publish provisional CPI data. In both economies, inflation is expected to ease modestly confirming the European Central Bank's view that January's rise will be shortlived," they said.
Amongst other key data, Germany's forward-looking ZEW survey and French investment survey will be more significant than the more historic fourth quarter GDP data from France and Spain pointing to a resumption in economic growth, the economists said. They said the German survey will probably vindicate the cautious stance taken in the ECB's latest monthly bulletin on the timing of an economic.
"By contrast, the French investment survey is expected to present a more upbeat message," UBS Warburg economists said. However, the French household spending release is forecast to show household consumption of manufactured goods rising by less in January than the previous months.
"The main uncertainty surrounds the impact of the introduction of euro notes and coins on spending," HSBC economists said. Otherwise, euro zone industrial output is expected "to see a sizeable bounce" in December, according to HSBC economists. Economists' forecasts for euro zone indicators due for release Feb 18-22:
AFX CONSENSUS PREVIOUS
TUESDAY FEB 19
Euro zone Dec industrial output
month-on-month (pct) +0.6 -0.8

year-on-year (pct) -4.6 -4.3

German ZEW expectations balance 37.5 35.9

WEDNESDAY FEB 20
Spain Q4 GDP
month-on-month (pct) +0.2 +0.4
quarter-on-quarter (pct) +2.1 +2.6

THURSDAY FEB 21
French Jan household consumption
month-on-month (pct) +0.2 +0.4
year-on-year (pct) +2.5 +3.3

Italy Feb cities CPI
month-on-month (pct) +0.2 +0.5
year-on-year (pct) +2.3 +2.4

FRIDAY FEB 15
French Q4 GDP
month-on-month (pct) 0.0 +0.5
quarter-on-quarter (pct) +1.3 +1.9

Italy Jan final CPI
month-on-month (pct) +0.5 +0.1
year-on-year (pct) +2.4 +2.4

Spain Jan CPI
month-on-month (pct) +0.6 +0.4
year-on-year (pct) +3.3 +3.8

ALSO EXPECTED
German Jan PPI
month-on-month (pct) +1.6 +0.4
year-on-year (pct) +0.1 -0.3

German Feb prel CPI
month-on-month (pct) +0.4 +0.9
year-on-year (pct) +1.8 +2.1