Economists forecast euro zone retail sales for March to rise 0.3% following February's decline of 0.5%.

Economists from Capital Economics wrote in a note to clients that the retail sales aren't expected to show a recovery in the near future.

"March's euro-zone retail sales figures are unlikely to point to any turnaround in the persistently subdued consumer sector," noted economists from Capital Economics. "It still appears that the domestic consumer sector is so far failing to pick up the slack from slowing external demand."

In the UK, the consensus is calling for industrial production to decline 0.1% following February's rise of 0.3%. The annualized rate is expected to rise 0.8% following February's increase of 1.3%.

Finally, in Germany, March factory orders are expected to rise 0.3% following a 0.5% fall in February. The annualized rate is expected to increase 6.0% following February's rise of 9.0%

All times in EDT.

Wednesday

3:00 EU ECB's Bini Smaghi, Stark hold speeches in Frankfurt

4:00 EU EU Lawmaker Speaks About Breaking Up Power Companies

4:30 UK Industrial Production (Monthly) March Exp: -0.1% Prior: +0.3%

4:30 UK Industrial Production (Annualized) March Exp: Exp: +0.8% Prior: +1.3%

4:30 UK Manufacturing Production (Monthly) March Exp: Unchanged Prior: +0.4%

4:30 UK Manufacturing Production (Annualized) March Exp: +1.2% Prior: +1.9%

5:00 EU Euro Zone Retail Sales (Monthly) March Exp: +0.2% Prior: -0.5%

5:00 EU Euro Zone Retail Sales (Annualized) March Exp: -0.7% Prior: -0.2%

5:30 UK BRC April Shop Price Index

6:00 EU German Factory Orders (Monthly) (SA) March Exp: +0.3% Prior: -0.5%

6:00 EU German Factory Orders (Annualized) (NSA) March Exp: +6.0% Prior: +9.0%

10:30 EU EU's Almunia Releases `EMU@10' Report on Euro's First Decade

19:01 UK NIESR GDP Estimate April Prior: 0.5%

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