MNI Global Morning Briefing

     LONDON (MNI) - Tuesday sees a busy start in terms of European data

releases. The highlights are flash GDP for France, Spain, EZ and Italy at 0630,

0800, 1000 and 1100BST respectively. The release of flash CPI in Germany is also

worth noting. In the US the publication of the MNI Chicago Report will be

closely watched.

     GDP improvement in EZ?

     Quarterly GDP in France is expected to remain at Q4's level of 0.3% in Q1.

The same applies for Spanish GDP, which is anticipated to grow by 0.6% q/q and

2.3% y/y in Q1 after the same readings in Q4. Italy's quarterly GDP is expected

to grow by 0.1% after a fall of 0.1% in Q4 while GDP y/y is anticipated to

decrease by 0.1% in Q1 (0.0% Q4).

     In the Eurozone overall, quarterly GDP is expected to rise by 0.3% after

0.2% in Q4. A growth rate of 0.3% in Q1 would be the highest reading since Q2

2018. Yearly GDP for the EZ in Q1 is expected to remain at Q4's level of 1.1%.

     April's reading of German flash HICP m/m is expected to remain at March's

final level of 0.5%. Monthly inflation is stable at 0.5% since February and

reveals the highest reading since May 2018. HICP y/y grew by 1.4% in March and

according to the MNI median flash HICP y/y rises 1.6% in April.

     Chicago PMI Rebound?

     The MNI Chicago PMI is expected to rebound to a reading of 59.7 in April

after a dip to 58.7 in March. Other regional data already released have been

mixed, with the Empire State index up, but the Philadelphia Fed, Richmond Fed,

and Kansas City Fed readings all down.

     The highlights in terms of speeches is the first day of the Fed FOMC policy

meeting in the US.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com