5 Things to Watch on the Economic Calendar This Week

1. Flash euro zone PMIs for January
The euro zone is to publish preliminary data on manufacturing and service sector activity for January at 9:00GMT, or 4:00AM ET, amid expectations for a modest decline.
Ahead of the euro zone PMI's, France and Germany will release their own PMI reports at 8:00GMT and 8:30GMT respectively.

2. U.S. durable goods orders for January
The U.S. is to produce data on January durable goods orders at 13:30GMT, or 8:30AM ET, on Thursday. The report is expected to show that orders for durable goods jumped 2.9% last month, following a drop of 5.0% in December, while core orders are forecast to inch up 0.2% after falling 1.0% a month earlier.

3. U.K. Q4 GDP - second estimate
The Office for National Statistics is to produce revised data on U.K. economic growth for the fourth quarter at 9:30GMT, or 4:30AM ET, on Thursday. The report is forecast to reveal the economy grew 0.5% in the three months ended December 31, unchanged from a preliminary estimate.

4.U.S. January consumer confidence
The Conference Board, a market research group, is to publish data on January consumer confidence at 15:00GMT, or 10:00AM ET, on Tuesday, with market players expecting the index to fall to 97.3 from 98.1 a month earlier.

5.1. Revised U.S. fourth quarter growth data
The U.S. is to release revised figures on fourth quarter economic growth at 13:30GMT, or 8:30AM, Friday. The data is expected to show that the economy expanded by a modest 0.4% in the final three months of last year, downwardly revised from a preliminary estimate of 0.7% and slowing from growth of 2.0% in the third quarter.