A further data release from Britain’s Office for National Statistics on Thursday showed that the economy returned to growth in November, with gross domestic product rising 0.1% on a monthly basis after two months of economic contraction.
Elsewhere in the region, the European Commission will finalize figures on euro area inflation on Friday. Preliminary data released earlier this month showed that annual inflation in the euro zone rose to 2.4% in December — the bloc’s third consecutive monthly rise.
Spain — one of Europe’s fastest growing economies, according to the OECD — is set to publish import and export figures on Friday morning.
Overnight in Asia, stocks were mixed as investors reacted to China’s fourth-quarter GDP update, which came in above expectations.
On Wall Street, stock futures edged higher, with indexes poised to end the week higher despite some volatility in recent days.
— CNBC’s Lisa Kailai Han and Lee Ying Shan contributed to this European markets update.
British pound declines
The British pound fell 0.5% against the dollar on Friday morning, trading at $1.21676 at 7:49 a.m. London time.
The decline of the British currency came after official data showed U.K. retail sales had fallen 0.3% in December on a monthly basis.
— Chloe Taylor
UK retail sales fall
Retail sales in the U.K. fell by 0.3% in December on the month, according to an estimate published Friday by the country’s Office for National Statistics (ONS). On an annual basis, retail sales were up 3.6%, the ONS said, following a “large fall” in December 2023.
The new figures meant sales volumes for the fourth quarter of the year were down 0.8% from the previous three-month period.
— Chloe Taylor
