European Economic News Preview: Eurozone Unemployment, Economic Sentiment Due

Unemployment and economic confidence survey results from the euro area and quarterly national accounts from Switzerland are due on Thursday, headlining a busy day for the European economic news.

At 3.00 am ET, Switzerland's State Secretariat for Economic Affairs releases Swiss GDP data. The economy is forecast to grow 0.3 percent sequentially in the first quarter, the same pace as seen in the fourth quarter of 2023.

Also, revised GDP from Sweden and foreign trade figures from Switzerland are due.

At 3.00 am ET, Spain's INE publishes flash inflation figures for May. Economists forecast consumer price inflation to rise to 3.7 percent from 3.3 percent in April.

At 4.00 am ET, Italy's Istat is slated to release unemployment data for April. The jobless rate is seen at 7.3 percent, up from 7.2 percent in March.

At 5.00 am ET, the European Commission releases euro area economic sentiment survey results. The economic confidence index is forecast to climb to 96.2 in May from 95.6 in the previous month.

Also, Eurostat publishes euro area unemployment data. Economists expect the jobless rate to remain unchanged at 6.5 percent in April.

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