European Economics Preview

A slew of statistical reports are due from Europe on Tuesday. Among them, revised GDP figures and business confidence survey results from Germany, and French business sentiment are expected to dominate the scene.At 2:00 am ET, Germany's Federal Statistical Office is set to issue final GDP data for the third quarter. According to preliminary estimates, the largest Eurozone economy contracted by working day adjusted 4.8% year-on-year in the third quarter. The seasonally adjusted quarterly growth rate was 0.7%. The statistical office is expected to confirm the preliminary estimate released on November 13.Elsewhere, the UBS Bank is scheduled to release Switzerland's private consumption data for October. The consumption indicator stood at 0.632 in September.Unemployment data is due from Statistics Finland at 2:00 am ET. Economists expect the unemployment rate to rise to 8.1% in October from 7.3% in September.At 2:45 am ET, business confidence data is due from the French statistical office INSEE. The business confidence index is forecast to rise to 91 in November from 89 in October. The production outlook index is seen at minus 9, compared to minus 11 in the preceding month.Consumer spending data is due from the French statistical office at 2:50 am ET. Month-on-month, consumer spending is expected to grow 0.4%, slower than the 2.3% increase in the previous month.At 3:00 am ET, Spain's National Statistics Institute is slated to release producer price figures for October. After falling 5.4% on a yearly basis in September, producer prices are forecast to drop 3.1% in October.Half an hour later, the Statistics Sweden is expected to issue producer price figures for October. The producer price index is expected to fall 1.6% on a yearly basis and by 0.1% on a monthly basis.Simultaneously, producer confidence data is due from the Netherlands' Central Bureau of Statistics. The producer confidence index is seen at minus 7 in November, up from minus 7.8 in the preceding month.Industrial production statistics for September are due from Statistics Austria at 3:30 am ET. Industrial output had risen 2% month-on-month in August.At 4:00 am ET, Germany's Ifo Institute for Economic Research is scheduled to release business confidence data for November. The index is expected to rise to 92.5 in November from 91.9 in the previous month. Further, the current conditions index is seen at 88, up from 87.4, while the expectations index is tipped to climb to 97.2 from 96.8.In the meantime, the Statistics Norway is expected to issue GDP data for the third quarter. The total GDP had declined a seasonally adjusted 1.3% quarter-on-quarter in the second quarter. The Mainland GDP had increased a seasonally adjusted 0.3% in the second quarter from the preceding quarter.At 4:30 am ET, mortgage approvals data for October is due from the British Banker's Association. UK's total mortgage approvals stood at 42,088 in September.Business investment data is due from the U.K.'s Office for National Statistics at 4:30 am ET. Economists expect total business investment to shrink 22.9% year-on-year in the third quarter, faster than the 21.8% drop in the previous quarter. On a quarterly basis, business investments are tipped to fall 5%, after the 10.2% decrease in the second quarter.At 5:00 am ET, the Eurostat is set to release industrial new orders data for September. Eurozone new orders are expected to decline 17.3% year-on-year compared to the 23.1% fall in the prior month. On a monthly basis, new orders are forecast to rise 0.8%.