European Economic News Preview Tuesday, Monday, May 14, 2007 1:18:15 PM

A flood of economic data is expected out of Europe on Tuesday. Germany, France, Euro-Zone and Italy will report on their respective Gross Domestic Product in the day for their first quarters. Switzerland will announce its Real Retail Sales data for March, while the UK will report on its RPI for April.

Germany will be reporting on its GDP Tuesday morning. In the previous quarter, the seasonally adjusted GDP came in at 0.9%, and is expected to decline in tomorrow`s data. On an annual basis adjusted for working days, the previous rate came in at 3.7%, and is also anticipated to decrease. Data on a non seasonally adjusted basis will also be reported.

France is due to report on its GDP on Tuesday. In the previous quarter, the GDP came in at 0.7%, and is expected to remain unchanged for the first quarter. On an annual basis, the rate came in at 2.5% and is anticipated to increase in tomorrow`s data. Other news from France will include its CPI data for April.

Switzerland will announce its Adjusted Real Retail Sales data for March on Tuesday. In the previous year, the rate came in at 2.5%. The rate is expected to decline in tomorrow`s data.

Italy will report on its GDP data for its first quarter on Tuesday. The previous quarter, seasonally adjusted and working days adjusted, came in at 1.1%, and is expected to decline in tomorrow` action. On the same basis, the rate came in at 2.8% in the previous year quarter, and is forecast to decrease.

The UK will report on its Retail Price Index data for April on Tuesday. In the previous month, the rate came in at 0.6% and is forecast to edge down slightly. The prior year quarter came in at 2.8%, and is also expected to decline. Other news will include RPI data excluding Mortgage Interest Payments. The UK will also report on its Consumer Price Index data for April on a monthly and yearly basis. The previous month came in at 0.5%, and is expected to decline. On an annual basis, the prior numbers came in at 3.1% and are expected to edge down. Core CPI data on an annual basis will also be announced.

The Euro-Zone will report on its GDP on a seasonally adjusted basis for its first quarter on Tuesday. In the previous quarter, the rate came in at 0.9%. On an annual basis, the previous rate was 3.3% and is forecast to decrease in tomorrow`s data. Other news from the Euro-Zone will include the European Commission GDP Forecasts. The ECB`s Tumpel-Gugerell will speak in Frankfurt, and Mersch will speak at the forum in Dubai. Later in the day, the ECB`s Gonzalez-Paramo will speak in The Hague.

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