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European economic data will be closely watched this week

Jean-Claude Juncker, president of the European Commission
Jean-Claude Juncker, president of the European Commission. Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

With the eurozone on the brink of recession and its economic engine, Germany, likely already in one, data this week out of Europe will be closely watched.

Why it matters: This week will bring the release of German factory orders and industrial production data as well as the European Commission's forecasts for eurozone growth.

  • The Bank of England’s Monetary Policy Report also will be released on Thursday.

Of note: Central banks in Poland, Romania, the Czech Republic and Serbia all will announce policy decisions, with each one expected to keep rates on hold. Globally, central banks appear to be following the Fed's lead and holding off on more rate cuts and further policy easing.

Go deeper: European Central Bank launching stimulus program to shore up economy