RTTNews - Wednesday, economic reports due from major European economies include German import prices and Bank of England's minutes.

At 2.00am ET, the German producer prices report is due from Destatis. Producer prices are forecast to fall 1.3% annually in April, larger than the 0.5% drop in March. On a monthly basis, producer prices are expected to stay flat.

In the meantime, the Statistics Estonia is slated to release producer prices data for April. Producer price inflation had eased to 1.1% in March from 2% in the previous month.

Thereafter, a final report for Spanish first quarter GDP is due at 3.00am ET. According to flash estimate, the economy had contracted 1.8% sequentially in the first quarter of 2009, following a 1% decline in the fourth quarter.

At 4.00am ET, Italian industrial orders and sales for the month of March are due. After declining 1.5% in February, orders are expected to drop 2.5% month-on-month in March. Meanwhile, the decline in turnover is seen at 1.6%.

Half an hour later, the minutes of the Bank of England's monetary policy meeting held on May 6 and 7 is due. The central bank had retained its key interest rate at a historical low of 0.5% and raised the size of the asset purchase scheme by GBP 50 billion to GBP 125 billion.

At the same time, BoE set to release Agent's Summary of Business Conditions.

Afterwards, the Confederation of British Industry is scheduled to issue Industrial Trends survey at 6.00am ET.

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