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Industrial production from Germany and retail sales from euro area are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's industrial output figures. Production is forecast to fall 0.8 percent on month in September, reversing a 2.6 percent rise in August.

In the meantime, Norway's industrial production data is due.

At 3.00 am ET, retail sales from Hungary and wholesale prices from Austria are due. Hungary's retail sales are forecast to grow 5 percent annually in September, following a 4.7 percent rise in August.

Half an hour later, UK Halifax house prices are due. Economists forecast house prices to grow 0.1 percent on month in October, slower than the 0.8 percent increase seen in September.

At 4.00 am ET, the statistical office Istat is slated to release Italy's retail sales for September. Economists forecast sales to grow 0.2 percent on month, in contrast to a 0.3 percent fall in August.

At 5.00 am ET, Eurostat releases euro area retail sales for September. Sales are forecast to climb 0.6 percent month-on-month, reversing a 0.5 percent fall in August.