Purchasing Managers' survey results from euro area and quarterly national accounts from the U.K. are due on Thursday.
At 3.00 am ET, France's flash PMI data is due. The manufacturing PMI is forecast to rise to 44.7 in May from 44.4 in April. Similarly, the services PMI is expected to improve to 44.5 from 44.3 a month ago.
Germany's PMI data is due at 3.30 am ET. Economists forecast the manufacturing PMI to rise to 48.5 from 48.1 in April, and services index to reach 50, up from 49.6 in the prior month.
At 4.00 am ET, Eurozone flash PMI is due. The composite output index is seen at 47.2 in May, up from 46.9 in April.
In the meantime, Italy's statistical office Istat is set to release retail sales for March. Sales are forecast to fall 0.1 percent on a monthly basis, after easing 0.2 percent in February.
Half an hour later, the Office for National Statistics is scheduled to release second estimate for U.K. GDP. According to preliminary estimate, the economy expanded 0.3 percent in the first quarter.
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