By Jon Sindreu
LONDON--Economists expect preliminary data due this coming week
to show the fall in prices slowed in the eurozone in March, a fresh
indication the economy of the 19-nation bloc is showing signs of
recovering after months of weak growth.
Median forecasts by analysts polled by The Wall Street Journal
say consumer prices in the eurozone overall likely fell an annual
0.1%, a slower pace than February's 0.3% dip. Weak inflation is a
worry for European policymakers, who are afraid a period of
prolonged deflation could lead consumers to hoard money as they
wait for prices to fall further.
The European Central Bank has begun its program to buy 60
billion euros ($65.3 billion) worth of sovereign bonds a month in a
bid to stimulate the economy. A string of positive economic data
has suggested the ECB's actions have already begun to take effect.
Purchasing Managers' Index indicators due Wednesday are set to
confirm the manufacturing sector in the eurozone strengthened in
March.
However, analysts remain concerned Greece has so far failed to
unlock much-needed funding from its creditors. As a condition for a
new bailout, European leaders have pressured Greek Prime Minister
Alexis Tsipras into detailing its plans to broaden structural
reforms, but estimates suggest Athens could run out of money in
less than two weeks.
"Our view is that funding pressures in Greece will become much
stronger in early April if this round of negotiations fails. Time
is very short," economists at Bank of America Merrill Lynch said
Friday in a weekly research note.
Date GMT Indicator Period Forecast Previous
Mar 30 0700 SPAIN HCPI Mar -1.0%YY (6) -1.2%YY
Mar 30 0800 ITALY Consumer confidence Mar 110.2 (6) 110.9
Mar 30 0900 EUROZONE Economic sentiment Mar 103.0 (17) 102.1
Mar 30 0900 EUROZONE Industrial confidence Mar -4.0 (14) -4.7
Mar 30 0900 EUROZONE Consumer confidence Mar -3.7 (15) -3.7p/-6.7
Mar 30 1200 GERMANY CPI preliminary Mar +0.5%MM (16) +0.9%MM
Mar 30 1200 GERMANY CPI preliminary Mar +0.3%YY (20) +0.1%YY
Mar 30 1200 GERMANY HCPI preliminary Mar +0.5%MM (12) +1.0%MM
Mar 30 1200 GERMANY HCPI preliminary Mar +0.1%YY (12) -0.1%YY
Mar 31 0600 GERMANY Retail sales Feb -0.5%MM (8) +2.3%MM
Mar 31 0645 FRANCE Household consumption Feb +0.1%MM (7) +0.6%MM
Mar 31 0645 FRANCE Household consumption Feb +3.0%YY (4) +2.6%YY
Mar 31 0755 GERMANY Unemployment change Mar -12.000 (18) -20.000
Mar 31 0755 GERMANY Unemployment rate Mar 6.5% (19) 6.5%
Mar 31 0900 EUROZONE HCPI preliminary Mar -0.1%YY (22) -0.3%YY
Mar 31 0900 EUROZONE Core CPI preliminary Mar +0.7%YY (12) +0.7%YY
Mar 31 0900 ITALY CPI preliminary Mar +0.1%MM (3) +0.4%MM
Mar 31 0900 ITALY CPI preliminary Mar -0.1%YY (4) -0.1%YY
Mar 31 0900 EUROZONE Unemployment rate Feb 11.2% (17) 11.2%
Apr 01 0745 ITALY PMI manufacturing Mar 52.0 (7) 51.9
Apr 01 0750 FRANCE PMI manufacturing final Mar 48.2 (8) 48.2p/47.6
Apr 01 0755 GERMANY PMI manufacturing final Mar 52.4 (15) 52.4p/51.1
Apr 01 0800 EUROZONE PMI manufacturing final Mar 51.9 (19) 51.9p/51.0
(Figures in parentheses refer to number of economists surveyed.
p = preliminary)
Write to Jon Sindreu at jon.sindreu@wsj.com