RTTNews - Wednesday, the British industrial production report is expected to dominate the newsflow from European economies. The results of the Purchasing Managers' Index survey for the service sector of major European economies are also due.

Spanish industrial production data is due at 3.00am ET. Following an annual fall of 20.5% in May, economists expect output to drop 18.6% in June.

The release of the services Purchasing Managers' Index reports for major Eurozone economies is set to start at 3.45 am ET. The first one that is expected to hit the wires is the preliminary Italian PMI for service sector. The Italian services PMI is forecast to rise to 42.7 in July from 42.3 last month.

Thereafter, final PMI reports are due from France, Germany, Eurozone and the preliminary report for the U.K.

At 4.30am ET, the Office for National Statistics is slated to release industrial output data for June. After falling 0.6% month-on-month in May, British industrial output is forecast to stay flat in June. Meanwhile, manufacturing output is expected to drop 0.1% in June.

Half an hour later, the European Union's statistics office is set to issue retail sales for June. Economists forecast retail sales to rise 0.3% in June from the previous month, reversing 0.4% drop in May. Annually, retail sales are expected to decline 2.2%.

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