GDP, industrial production and foreign trade reports are due from the UK on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. Economists forecast GDP to grow 0.2 percent on month, in contrast to the 0.3 percent decrease in October.

UK industrial production is expected to expand 0.3 percent, reversing a 0.8 percent drop in October. The visible trade deficit is seen narrowing to GBP 15.7 billion from GBP 17.03 billion in October.

At 2.30 am ET, the Hungarian Central Statistical Office releases consumer prices and industrial production. Inflation is seen easing to 6.0 percent in December from 7.9 percent in November.

At 2.45 am ET, France's statistical office INSEE publishes final inflation figures for December. Consumer price inflation is seen rising to 3.7 percent, as initially estimated, from 3.5 percent in October.

At 3.00 am ET, the Czech Statistical Office publishes retail sales for November.

In the meantime, final inflation figures are due from Spain. The final consumer price inflation is expected to ease to 3.1 percent in December, as initially estimated, from 3.2 percent in November. At 5.00 am ET, the Hellenic Statistical Authority releases Greece inflation figures for December.

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