Industrial production and foreign trade from Germany and house prices from the UK are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany's industrial output and external trade figures. Economists forecast industrial output to fall 0.7 percent on month in December, in contrast to the 1.5 percent rise in November. Exports are forecast to drop 0.6 percent and imports to grow 1.8 percent month-on-month in December.

In the meantime, UK Halifax house price data is due. House prices are expected to grow 0.4 percent on a monthly basis in January, reversing a 0.2 percent fall in December.

At 2.45 am ET, France's customs office publishes foreign trade data. The trade deficit is seen narrowing to EUR 5.3 billion in December from EUR 7.1 billion in January.

At 3.00 am ET, Spain's statistical office INE releases industrial production for December. Economists expect output to expand 0.5 percent on a yearly basis in December, following a 0.4 percent drop in November.

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