Economic data to be released this week are expected to show slipping business and consumer eurozone confidence in September and slowing economic growth in Britain as rate hikes braked expansion, economists said.
Whereas the European Central Bank has talked of the economic recovery in the 12-state eurozone becoming more broadly based, the data may signal that the recovery remained stuck at a moderate pace, they said.
Germany, France and Italy will release key confidence numbers, while the European Commission will publish its eurozone economic sentiment survey. Purchasing managers' indices for the manufacturing sector will also be released.
"How these (surveys) have fared should help our insight into the prospects for firmer domestic demand growth," said Philip Shaw of Investec.
The German Ifo business climate index will kick off the week early Monday, and economists were looking for a further small decline in the index in September.
The index for the eurozone's biggest economy has been on a downward trend since the start of the year, dragged lower by declines in the business expectations component.
"Economic expansion appears to be losing momentum," said Lorenzo Codogno of Bank of America.
Stefan Bielmeier and Manuela Presuchl of Deutsche Bank said: "The renewed increase in oil prices and rising concerns that high oil prices could dampen worldwide demand should have led to another decline in the Ifo index in September. This would be the fourth fall in the last five months, which would suggest that German GDP growth will be less dynamic in the second half than the first."
INSEE's French business climate indicator and ISAE's Italian business confidence figures were also expected to ease slightly on concerns about the pace of global growth and the impact of oil price rises.
The European Commission's economic sentiment survey and the manufacturing PMI data, both due on Friday, will show a similar picture, economists said.
Eurozone headline inflation was expected to show a slight fall in September as the effects of the oil price rise remain confined to energy prices, without knock-on effects onto the prices of other goods.
However, the ECB remained wary of future inflation risks and would therefore be closely scrutinising Monday's eurozone August money supply and credit data.
The slowdown in M3 money supply growth has ended and the central bank was sounding increasingly concerned about the inflation risks of excess liquidity.
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