Quarterly national accounts data from Eurozone and other major economies are due on Tuesday, headlining a hectic day for the European economic news.
At 1.30 am ET, French inflation and GDP reports are due. The French economy is expected to remain flat in the first quarter after expanding 0.2 percent in the previous quarter. EU harmonized inflation is forecast to edge down to 2.5 percent in April from 2.6 percent in March.
Half an hour later, the Federal Statistical Office is set to release Germany's GDP data. The largest Eurozone economy is expected to grow 0.1 percent sequentially, following a 0.2 percent contraction in the previous quarter.
Quarterly national accounts from Austria, Hungary, Czech Republic and Romania are due at 3.00 am ET. Hungary is expected to shrink 0.1 percent annually, compared to last quarter's 1.4 percent growth. Czech GDP is predicted to remain flat.
Dutch GDP and external trade figures are due at 3.30 am ET. Thereafter, Norway's external trade data is due at 4.00 am ET.
At 4.30 am ET, the Office for National Statistics is scheduled to issue external trade data. The U.K. visible trade deficit is seen narrowing to GBP 8.4 billion in March from GBP 8.77 billion in February.
At 5.00 am ET, Eurostat is slated to release first quarter GDP figures. The 17-nation bloc is widely expected to shrink 0.2 percent, and enter into a recession. In the last quarter of 2011, gross domestic product was down 0.3 percent.
In the meantime, the Mannheim-based Centre for European Economic Research is set to issue German economic sentiment survey results. The economic sentiment index is forecast to fall to 19 in May from 23.4 in April.
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