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Factory orders from Germany and revised quarterly national accounts from euro area are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders for October. Economists forecast orders to grow 0.4 percent on month, slower than the 1.3 percent increase in September.

At 3.00 am ET, Spain's INE is slated to release industrial production for October. Economists expect production to drop 0.5 percent on month after falling 0.8 percent in September.

In the meantime, retail sales from Hungary and GDP from Slovakia are due.

At 3.30 am ET, IHS Markit releases Germany's construction PMI data for November.

At 5.00 am ET, Eurostat publishes revised GDP and retail sales data. The single-currency bloc is forecast to expand 0.2 percent sequentially as initially estimated in the third quarter.

Economists forecast euro area retail sales to drop 0.3 percent on month in October, in contrast to a 0.1 percent rise in September.