RTTNews - Wednesday, French consumer confidence and business confidence are forecast to improve on expectations that the worst of the recession may be over.

At 2.00am ET, Statistics Finland is likely to reveal results of the consumer confidence survey for the month of May.

Forty-five minutes later, French statistical office INSEE is due to release results of the consumer confidence survey for May. Economists forecast a reading of minus 40 for May, up from minus 41 in April.

Thereafter, the agency is expected to unveil results of the business confidence survey. The business confidence indicator is projected to increase to 73 from 71. The general production outlook indicator is seen rising to minus 16 from minus 18.

Retail sales data for April is due from the Spanish statistical office at 3.00am ET, which according to economists will contract 8% year-on-year.

After fifteen minutes, Sweden's National Institute of Economic Research is expected to publish results of the latest economic tendency survey.

At 3.30, Italy's economic think tank, ISAE would be announcing results of the consumer confidence survey for May. Half an hour later, statistical office Istat is expected to issue details regarding large company employment for the month of March and a report on hourly wages for April.

In central bank action, Poland's central bank is expected to announce its monetary policy decision. Economists expect the bank to hold the rate at 3.75%.

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