Flash purchasing managers' survey results from the major euro area economies and business sentiment from Germany and France are due on Thursday, headlining a hectic day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK public sector finance data for April. The budget deficit is forecast to rise to GBP 18 billion from GBP 16.4 billion in March.

At 2.45 am ET, France's statistical office INSEE is slated to release business confidence survey data. The business sentiment index is forecast to remain unchanged at 99 in May.

At 3.15 am ET, S&P Global publishes France flash composite PMI results for May. Economists forecast the index to rise to 48.0 from 47.8 in the previous month.

At 3.30 am ET, Germany's flash composite PMI data is due. The composite index is seen at 50.4, down from 50.1 a month ago.

At 4.00 am ET, S&P Global is scheduled to issue flash euro area composite PMI survey results. The composite index is expected to climb to 50.7 in May from 50.4 in April. In the meantime, the ifo Institute publishes Germany's economic sentiment survey data. Economists forecast the business climate index to rise to 87.4 in May from 86.9 in the prior month.

At 4.30 am ET, S&P Global is slated to release UK composite PMI data. The composite index is seen rising to 49.3 in May from 48.5 in April.

At 7.30 am ET, the European Central Bank publishes the account of monetary policy meeting held on April 16 and 17.

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