FX.co ★ European Economic News Preview: UK GDP Data Due

On Wednesday, we are anticipating crucial economic updates from the UK and the Eurozone. These will include data on gross domestic product (GDP), industrial production, and foreign trade.

At 3:00 am Eastern Time, the Office for National Statistics (ONS) is set to publish its latest economic reports for the UK. The nation's GDP for January is predicted to have expanded by 0.2 percent, a marked improvement from December's 0.1 percent contraction.

Moreover, the UK's visible trade deficit is expected to have increased from GBP 13.9 billion to 15 billion. Projections for industrial output in January suggest no change; indicating a slower pace than December's 0.6 percent increase.

Meanwhile, detailed data on the wholesale prices in Germany for February is due from Destatis, the German Federal Statistical Office.

Advance of the morning, at 3:30 am, we are expecting the final industrial production report for Hungary. Then, at 6:00 am Eastern Time, Eurostat will release the Eurozone's industrial production data for January. Predictions suggest a decrease of 1.5 percent, a sharp turnaround from the 2.6 percent increase seen in December.

To conclude the day, at 8:00 am, the National Institute of Economic and Social Research (NIESR) is scheduled to release its monthly GDP tracker for the UK.