Flash Purchasing Managers' survey data from euro area and the UK are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, Germany's market research group GfK is set to release consumer confidence survey data for October. The forward-looking sentiment index is expected to rise to -1 from -1.8 in September.

At 3.00 am ET, Spain's INE releases final GDP data for the second quarter. The statistical office is expected to confirm the quarterly contraction of 18.5 percent.

At 3.15 am ET, IHS Markit releases France's composite PMI data. The composite output index is expected to rise to 51.9 in September from 51.6 in August.

At 3.30 am ET, Germany's flash PMI data is due. Economists forecast the composite PMI to fall to 54.1 in September from 54.4 in August.

Half an hour later, preliminary Purchasing Managers' survey results are due from the euro area. The composite output index is seen at 51.7 in September versus 51.9 in August.

At 4.30 am ET, IHS Markit is scheduled to issue UK composite PMI survey data. Economists forecast the composite PMI to drop to 56.3 from 59.1 in August.

At 8.30 am ET, the Czech National Bank is set to announce its interest rate decision.

European Economics Preview: Eurozone Flash PMI Data Due