Report published September 25, 2026

Goldman Sachs: European Week Ahead (September 28 - October 4, 2026)

Goldman Sachs · September 25, 2026

This report outlines key European macroeconomic events and data releases for the week of September 28 to October 4, 2026. The primary focus is on flash September HICP reports across the Euro Area, regional final manufacturing PMIs, and extensive central bank speaking appearances from the ECB and Bank of England.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Flash September HICP inflation reports across major Euro Area economies and the aggregate bloc will be the primary focus, with headline Euro Area inflation expected to increase to 3.72% yoy.
2.Inflation prints in Germany, France, Spain, and Italy are projected to rise year-over-year, driven largely by energy and core services inflation.
3.A busy central bank calendar features multiple appearances from ECB officials (including Lagarde, Cipollone, Elderson, Schnabel, and Lane) and Bank of England officials (including Bailey, Mann, Ramsden, Taylor, and Pill).

Euro Area
United Kingdom
Scandinavia
Switzerland
Exhibit 1: Events in the Week Ahead

Report data

Exhibit 1: Events in the Week Ahead

Metric	Estimate	Context
Spanish HICP YoY	5.0 % yoy	Goldman Sachs expectation vs consensus 4.9% and prior 4.6%
French HICP YoY	3.2 % yoy	Goldman Sachs expectation vs consensus 3.1% and prior 2.6%
Italian HICP YoY	3.8 % yoy	Goldman Sachs expectation vs consensus 3.7% and prior 3.2%
German HICP YoY	3.3 % yoy	Goldman Sachs expectation vs consensus 3.2% and prior 2.9%
Euro Area HICP YoY	3.72 % yoy	Goldman Sachs expectation vs consensus 3.6% and prior 3.25%