US: Economic Data Calendar

Posted Nov. 19
             Data
Date    ET   thru                                  Prior Report    Forecast

22-Nov  1000 4Q-04  Phila Survey of Prof Forecasters
22-Nov  ---  Oct-04 SEMI Book-to-Bill Ratio        ---
23-Nov  0745 20-Nov ICSC-UBS Store Sales           -0.4% w/w, +3.4% y/y
23-Nov  0855 20-Nov Redbook Index                  +0.2% thru wk 2
23-Nov  1000 Oct-04 Existing Home Sales (NAR)      6.75 mn         ---
23-Nov  1830 21-Nov ABC/Money Consumer Survey      -6
24-Nov  0700 19-Nov MBA Mortgage Application Index +4.3% to 758.3  ---
24-Nov  0830 20-Nov Jobless Claims                 -3k to 334k     ---
24-Nov  0830 Oct-04 Durable Goods Orders           +0.2%           ---
24-Nov  1000 Oct-04 New Home Sales                 1.206 mn        ---
24-Nov  1000 Oct-04 Help-wanted Index              36
24-Nov  0945 Nov-04 Consumer Sentiment (UM) (f)    95.5            ---
24-Nov  1030 19-Nov EIA Crude Oil Stocks           +0.8 mn to 292.3 mn
25-Nov              Thanksgiving Day (markets closed)
26-Nov  0730 Oct-04 Building Permits Revision      ---
26-Nov  1630 18-Nov Money Supply (M2)              +$1.5 bn
30-Nov  0745 27-Nov ICSC-UBS Store Sales           ---
30-Nov  0830 3Q-04  GDP (p)                        +3.7%           ---
30-Nov  0830 3Q-04  Corporate Profits (p)          +0.7%           ---
30-Nov  0855 27-Nov Redbook Index                  ---
30-Nov  0900 Nov-04 NY NAPM                        313.7           ---
30-Nov  1000 Nov-04 Chicago Purchasers Index       68.5            ---
30-Nov  1000 Nov-04 Consumer Confidence (CB)       92.8            ---
30-Nov  1500 Nov-04 Agriculture Prices             -4.2%
30-Nov  1830 28-Nov ABC/Money Consumer Survey      ---
01-Dec  0700 26-Nov MBA Mortgage Application Index ---             ---
01-Dec  ---  Nov-04 Domestic Car Sales             5.1 mn          ---
01-Dec  ---  Nov-04 Domestic Lt Trucks Sales       8.1 mn          ---
01-Dec  0830 Oct-04 Personal Income                +0.2%           ---
01-Dec  0830 Oct-04 Personal Spending              +0.6%           ---
01-Dec  0830 Oct-04 Mkt-based PCE Price Index      +0.1%           ---
01-Dec  0830 Oct-04 Mkt-based PCE Core Price Index +0.1%           ---
01-Dec  1000 Nov-04 ISM Index                      56.8            ---
01-Dec  1000 Nov-04 ISM Prices Paid                78.5            ---
01-Dec  1000 Oct-04 Construction Spending          0.0%            ---
01-Dec  1030 26-Nov EIA Crude Oil Stocks           ---
01-Dec  1400 ---    Beige Book                     ---             ---
02-Dec  0600 Nov-04 Monster Employment Index       114
02-Dec  0830 27-Nov Jobless Claims                 ---             ---
02-Dec  1000 Oct-04 Factory Orders                 -0.4%           ---
02-Dec  ---  Nov-04 Store Sales                    ---             ---
02-Dec  1630 22-Nov Money Supply (M2)              ---
03-Dec  0830 Nov-04 Non-farm Payrolls              +337k           ---
03-Dec  0830 Nov-04 Mfg Jobs                       -5k             ---
03-Dec  0830 Nov-04 Unemployment Rate              5.5%            ---
03-Dec  0830 Nov-04 Avg Hourly Earnings Mo/Mo      +0.3%           ---
03-Dec  0830 Nov-04 Avg Hourly Earnings Yr/Yr      +2.6%
03-Dec  0830 Nov-04 Average Workweek               33.8            ---
03-Dec  1000 Nov-04 ISM Non-Mfg Index              59.8
06-Dec  1500 Nov-04 Treasury STRIPs                -$0.1 bn
07-Dec  0745 04-Dec ICSC-UBS Store Sales           ---
07-Dec  0830 Dec-04 Cambridge Consumer Index       62
07-Dec  0830 2Q-04  Non-farm Productivity (r)      +1.9% (p)       ---
07-Dec  0830 2Q-04  Unit Labor Costs (r)           +1.6% (p)       ---
07-Dec  0855 04-Dec Redbook Index                  ---
07-Dec  1000 Nov-04 Challenger Layoffs             101,840         ---
07-Dec  1000 Dec-04 IBD/TIPP Econ Optimism Index   55.1            ---
07-Dec  1500 Oct-04 Consumer Installment Credit    +$9.8 bn        ---
07-Dec  1830 05-Dec ABC/Money Consumer Survey      ---
08-Dec  0700 03-Dec MBA Mortgage Application Index ---             ---
08-Dec  0830 Nov-04 NY Fed Real Tech Pulse Index   ---             ---
08-Dec  1000 Nov-04 Richmond Fed Shipments         14
08-Dec  1030 03-Dec EIA Crude Oil Stocks           ---
09-Dec  0830 04-Dec Jobless Claims                 ---             ---
09-Dec  0830 Nov-04 Import Price Index             +1.5%           ---
09-Dec  0830 Nov-04 Export Price Index             +0.7%           ---
09-Dec  1000 Oct-04 Wholesale Inventories          +0.5%
09-Dec  1200 3Q-04  Flow of Funds-Domestic Nonfin  +7.7% SAAR      ---
09-Dec  1630 29-Dec Money Supply (M2)              ---
10-Dec  0830 Nov-04 Producer Price Index           ---             ---
10-Dec  0830 Nov-04 PPI ex food & energy           ---             ---
10-Dec  0945 Dec-04 Consumer Sentiment (UM) (p)    ---             ---
10-Dec  1400 Nov-04 Treasury Statement             -$57.3 bn       ---
                    Nov-03 : -$42.9 bn
13-Dec  0830 Nov-04 Retail & Food Sales            +0.2%           ---
13-Dec  0830 Nov-04 Retail & Food ex Motor Vehicle +0.9%
13-Dec  1000 Oct-04 Business Inventories           +0.1%           ---
13-Dec  1100 Nov-04 KC Fed Production              20
14-Dec  0745 11-Dec ICSC-UBS Store Sales           ---
14-Dec  0830 Oct-04 Intl Trade Balance             -$51.6 bn       ---
14-Dec  0855 11-Dec Redbook Index                  ---
14-Dec  0915 Nov-04 Industrial Production          +0.7%           ---
14-Dec  0915 Nov-04 Capacity Utilization           77.7%           ---
14-Dec  1000 3Q-04  Services Survey                ---
14-Dec  1415        FOMC Meeting Announcement
14-Dec  1830 12-Dec ABC/Money Consumer Survey      ---
15-Dec  0700 10-Dec MBA Mortgage Application Index ---             ---
15-Dec  0830 Dec-04 NY Fed Empire State Mfg Survey 19.76           ---
15-Dec  0900 Oct-04 Tsy Intl Capital System        $63.4 bn
15-Dec  1030 10-Dec EIA Crude Oil Stocks           ---
15-Dec  1300 Dec-04 Housing Market Index (NAHB)    71
16-Dec  0830 11-Dec Jobless Claims                 ---             ---
16-Dec  0830 Nov-04 Housing Starts                 2.027 mn        ---
16-Dec  0830 Nov-04 Building Permits               1.984 mn
16-Dec  0830 3Q-04  Current Account Balance        -$166.2 bn      ---
16-Dec  1200 Dec-04 Phila Fed Survey               ---             ---
16-Dec  1200 Dec-04 Phila Fed Prices Paid          ---             ---
16-Dec  1630 06-Dec Money Supply (M2)              ---
16-Dec  ---  Nov-04 SEMI Book-to-Bill Ratio        ---
17-Dec  0830 Nov-04 Consumer Price Index           +0.6%           ---
17-Dec  0830 Nov-04 CPI ex food & energy           +0.2%           ---

Eurozone: Economic Data Calendar
All release dates are subject to change

             Data                                   Prior        Median
Date    GMT  Thru          Release                 Release      Forecast

-----------------------------------------------------------------------
22-Nov  1000 Sep-04 Trade Balance (NSA, prelim)   +E3.0 bn
22-Nov  1000 Sep-04 Trade Balance (SA, prelim)    +E2.9 bn
23-Nov  1000 Sep-04 Industrial new orders (m/m)    -0.6%
23-Nov  1000 Sep-04 Industrial new orders (y/y)   +10.6%
23-Nov  1400 Nov-04 BNB Business Survey            -0.3 (unch)
25-Nov  0900 Sep-04 Direct+Portfolio Flows (ECB)  +E9.6 bn
25-Nov  0900 Sep-04 Current Account SA (ECB)      -E0.4 bn
25-Nov  0900 Sep-04 Current Account NSA (ECB)     +E2.1 bn
26-Nov  0900 Oct-04 EMU-12 M3 (ECB) (y/y)          +6.0%
26-Nov  0900 Oct-04 EMU-12 M3 ECB 3M avg (y/y)     +5.7%
30-Nov  1000 Nov-04 Flash HICP (y/y)               +2.4%
30-Nov  1000 Nov-04 EMU Economic Sent. Index       101.3
30-Nov  1000 Nov-04 EMU Consumer Confidence         -14
30-Nov  1000 Nov-04 EMU Industry Confidence          -2
30-Nov  1000 Nov-04 EMU Bus Climate Indicator      +0.54
01-Dec  0900 Nov-04 Reuters Mfg PMI SA              52.4
01-Dec  1000 3Q-04  EMU-12 GDP (1st reading, q/q)  +0.3%p
01-Dec  1000 3Q-04  EMU-12 GDP (1st reading, y/y)  +1.9%p
01-Dec  1000 4Q-04  EMU GDP indicator (q/q)    +0.2% to +0.6% (4Q)
01-Dec  1000 1Q-05  EMU GDP indicator (q/q)    +0.2% to +0.6% (1Q)
01-Dec  1000 Oct-04 Unemployment Rate               8.9%
02-Dec  1000 Oct-04 Industrial PPI (m/m)           +0.2%
02-Dec  1000 Oct-04 Industrial PPI (y/y)           +3.4%
03-Dec  0900 Nov-04 Reuters Services PMI SA         53.5
03-Dec  1000 Oct-04 Retail Trade (m/m)             +0.1%
03-Dec  1000 Oct-04 Retail Trade (y/y)              0.0%
07-Dec  1000 Q3-04  Construction Production (q/q)  -0.9%
07-Dec  1000 Q3-04  Construction Production (y/y)  -1.2%
07-Dec  1000 Dec-04 ZEW EMU expectations       +22.1 (-15.5 pts)
07-Dec  1000 Dec-04 ZEW EMU curr conditions    -25.8 (+0.2 pts)
10-Dec  1100 Oct-04 OECD EMU Leading Indicator 106.4 (+0.4 pt.)
14-Dec  0700 Nov-04 W Europe new car regi (y/y)    -3.5%
14-Dec  0700 Nov-04 EU-15 new car regis (y/y)      -3.5%
14-Dec  0700 Nov-04 EMU new car regis (y/y)        -3.1%
15-Dec  1000 3Q-04  Labor Costs (1st read)(y/y)    +2.1%
16-Dec  1000 Nov-04 Final HICP (m/m)               +0.3%
16-Dec  1000 Nov-04 Final HICP (y/y)               +2.4%
17-Dec  1000 Oct-04 Industrial Production (m/m)    +0.5%
17-Dec  1000 Oct-04 Industrial Production (y/y)    +2.9%
------
Notes:
*  = Preliminary release date
-- = not applicable.
NA = not available.

Germany: Economic Data Calendar
All release dates are subject to change

              Data                                  Prior       Median
Date    GMT   Thru   Release                        Release    Forecast

------------------------------------------------------------------------
22-Nov*   NA  Nov-04 Saxony CPI (m/m)               +0.2%
22-Nov*   NA  Nov-04 Saxony CPI (y/y)               +1.8%
22-Nov*   NA  Nov-04 Baden-Wuerttembg CPI (m/m)     +0.3%
22-Nov*   NA  Nov-04 Baden-Wuerttembg CPI (y/y)     +2.2%
22-Nov*   NA  Nov-04 Brandenburg CPI (m/m)          +0.4%
22-Nov*   NA  Nov-04 Brandenburg CPI (y/y)          +2.5%
22-Nov*   NA  Nov-04 Hesse CPI (m/m)                +0.2%
22-Nov*   NA  Nov-04 Hesse CPI (y/y)                +1.6%
22-Nov*   NA  Nov-04 N Rhine-Wphalia CPI (m/m)      +0.2%
22-Nov*   NA  Nov-04 N Rhine-Wphalia CPI (y/y)      +1.9%
22-Nov*   NA  Nov-04 Bavaria CPI (m/m)              +0.4%
22-Nov*   NA  Nov-04 Bavaria CPI (y/y)              +2.5%
22-Nov*   NA  Nov-04 Prelim. CPI (m/m)              +0.2%
22-Nov*   NA  Nov-04 Prelim. CPI (y/y)              +2.0%
22-Nov*   NA  Nov-04 Prelim. HICP (m/m)             +0.2%
22-Nov*   NA  Nov-04 Prelim. HICP (y/y)             +2.2%
22-Nov*   NA  Sep-04 BBK construction orders (m/m)  +2.9%
22-Nov*   NA  Sep-04 BBK construction orders (y/y)  -6.2%
23-Nov  0700  3Q-04  GDP SA  (final, q/q)           +0.1%p
23-Nov  0700  3Q-04  GDP NSA (final y/y)            +1.3%p
23-Nov  0700  3Q-04  GDP calendar adj (final, y/y)  +1.3%p
25-Nov  0900  Nov-04 IFO bus. sent. index (pan, SA)  95.3
25-Nov  0900  Nov-04 IFO current conditions          94.7
25-Nov  0900  Nov-04 IFO future expectations         95.9
25-Nov*   NA  Oct-04 VDMA plant/equipment orders   +9% y/y
29-Nov* 0700  Oct-04 Import prices (NSA, m/m)       +0.1%
29-Nov* 0700  Oct-04 Import prices (NSA, y/y)       +2.7%
29-Nov* 0700  Oct-04 Imp prices ex-oil (NSA,m/m)     0.0%
29-Nov* 0700  Oct-04 Imp prices ex-oil (NSA,y/y)    +0.3%
29-Nov* 0700  Oct-04 Export prices (NSA, m/m)        0.0%
29-Nov* 0700  Oct-04 Export prices (NSA, y/y)       +1.0%
29-Nov* 0700  Oct-04 Wholesale sales (m/m, sa,real) -0.7%
29-Nov* 0700  Oct-04 Wholesale sales (y/y,nsa,real) -1.1%
01-Dec  0855  Nov-04 Reuters Mfg PMI SA              52.8
02-Dec* 0700  Oct-04 Retail sales ex-Auto/Gas (m/m) -0.2%
02-Dec* 0700  Oct-04 Retail sales ex-Auto/Gas (y/y) -1.4%
02-Dec  0850  Nov-04 Unemployment level SA (m/m)   +12,000
02-Dec  0850  Nov-04 Unemployment rate SA            10.7%
02-Dec*   NA  Oct-04 BBK Total Retail sales (m/m)   -0.1%
02-Dec*   NA  Oct-04 BBK Total Retail sales (y/y)   -2.8%
03-Dec  0855  Nov-04 BME/Reuters Svcs PMI SA         52.2
06-Dec  1100  Oct-04 Mfg orders (m/m)               -0.2%p
06-Dec  1100  Oct-04 Mfg orders (y/y)               +3.6%p
06-Dec  1100  Oct-04 Domestic mfg orders (m/m)      -1.6%p
06-Dec  1100  Oct-04 Domestic mfg orders (y/y)      +0.1%p
06-Dec  1100  Oct-04 Foreign mfg orders (m/m)       +1.3%p
06-Dec  1100  Oct-04 Foreign mfg orders (y/y)       +7.5%p
06-Dec*   NA  Nov-04 VDA car production (y/y)         -3%
06-Dec*   NA  Nov-04 VDA car registration (y/y)       +4%
07-Dec  1000  Dec-04 ZEW German expectations    +13.9 (-17.4 pts)
07-Dec  1000  Dec-04 ZEW German curr conditions -57.8 (+1.1 pts)
09-Dec  0700  Oct-04 Foreign trade bal. (NSA, bln) +E12.0
09-Dec  0700  Oct-04 Foreign trade bal. (SA, bln)  +E12.0
09-Dec  0700  Oct-04 Current account bal.(NSA, bl)  +E5.1
09-Dec  1100  Oct-04 Industrial output (m/m)        -1.2%p
09-Dec  1100  Oct-04 Industrial output (y/y)        +2.5%p
09-Dec  1100  Oct-04 Mfg sector output (m/m)        -1.2%p
09-Dec  1100  Oct-04 Mfg sector output (y/y)        +3.9%p
10-Dec  1100  Oct-04 OECD Leading Indicator      108.7 (+0.1 pt)
10-Dec*   NA  Nov-04 ICON consumer confidence    82 (-2 pts)
13-Dec* 0700  Nov-04 Wholesale price index (m/m)    +0.8%
13-Dec* 0700  Nov-04 Wholesale price index (y/y)    +4.2%
13-Jan  0800   2004  GDP SA (preliminary y/y)       -0.1%
15-Feb  0700  4Q-04  GDP SA  (flash, q/q)           +0.1%p
15-Feb  0700  4Q-04  GDP NSA (flash y/y)            +1.3%p
15-Feb  0700  4Q-04  GDP calendar adj (flash, y/y)  +1.3%p
20-Dec* 0700  Oct-04 NSA PPI (m/m)                  +0.9%
20-Dec* 0700  Oct-04 NSA PPI (y/y)                  +3.3%
------
Notes:
* = preliminary release date
p = preliminary data reading
--- = not applicable.
NA = not available.

France: Economic Data Calendar
All release dates are subject to change

              Data                                 Prior        Median
Date    GMT   Thru   Release                       Release      Fcst

-------------------------------------------------------------------------
26-Nov  0745  Oct-04 PPI (m/m;y/y)                  +0.1%;+3.1% +0.6%,+3.6%
26-Nov  0750  Oct-04 CPI at big retailers (m/m;y/y) na
29-Nov  0745  Oct 04 Cons mfg spending (m/m;y/y)    -0.6%;+1.8%
30-Nov  0740  Nov-04 Mfg sentiment                  108
30-Nov  0740  Nov-04 Mfg sector outlook             25
30-Nov  0740  Nov-04 Mfg own-company outlook        20
30-Nov  0745  Oct-04 ILO jobless rate; chg (m/m)    9.9%;-17k
30-Nov  0745  Oct-04 Housing starts 3-mo (y/y)      +19.3%
30-Nov  0745  Oct-04 Housing permits 3-mo (y/y)     +20.2%
30-Nov  0750  Nov-04 Consumer sentiment             -19
01-Dec  0850  Nov-04 CDAF-Reuters mfg PMI           53.5
01-Dec  1100  Nov-04 New car registrations (y/y)    -8.1%
03-Dec  0850  Nov-04 CDAF-Reuters services PMI      54.8
07-Dec  0745  Oct-04 Govt budget deficit (y/y)      -E5.4 bn
10-Dec  0745  Oct-04 Merchandise trade balance      -E794 mn
10-Dec  0745  Nov-04 HICP, prel (m/m;y/y)           +0.4%;+2.3%
10-Dec  0745  Nov-04 CPI, prel (m/m;y/y)            +0.3%;+2.1%
10-Dec  0745  Nov-04 Core CPI, prel (m/m;y/y)        unch;+1.3%
10-Dec  0750  Oct-04 Industry production (m/m;y/y)  +3.2%;+2.9%
10-Dec  0750  Oct-04 Mfg production (m/m;y/y)       +4.0%;+3.8%
16 Dec  0745  Oct-04 Current account                -E158 mln
16 Dec  0745   3Q-04 Payrolls,final (q/q;y/y) prel: +0.1%;+0.2%
21-Dec  0745  Nov 04 Cons mfg spending (m/m;y/y)    na
22-Dec  0745   3Q-04 Salaries,final (q/q;y/y) prel: +0.8%;+2.6%
22-Dec  0745   3Q-04 Wages, final (q/q;y/y)   prel: +1.1%;+2.9%
22-Dec  0745  Nov-04 PPI (m/m;y/y)                  na
22-Dec  0750  Nov-04 HICP, final (m/m;y/y)    prel: na
22-Dec  0750  Nov-04 CPI, nsa final (m/m;y/y) prel: na
22-Dec  0750  Nov-04 Core CPI, sa (m/m;y/y)   prel: na
------------------------------------------------------------------

UK Economic Data Calendar

All release dates are subject to change.

Date    GMT         Release                      Prior Release   Median

23-Nov  0930 Oct     Motor vehicle production     -4.0 y/y
25-Nov  0930 Q3      Business investment          +2.6% q/q
25-Nov  0930 Oct     BBA mortgage approvals       59,905
25-Nov  1100 Nov     CBI industrial trends
25-Nov  1100 Nov     CBI ind. total orders        -12            -8
26-Nov  0930 Q3      GDP 2nd Estimate
26-Nov  0930 Q3      GDP Q3                       +0.4% q/q      +0.4%
26-Nov  0930 Q3      GDP Q3                       +3.0% y/y      +3.0%
29-Nov  0930 Oct     BOE lending to individuals
29-Nov  0930 Oct     BOE mortgage approvals       89,000
29-Nov  0930 Oct     BOE consumer credit        Stg1.609 bln
02-Dec               Pre-Budget Report
06-Dec  0930 Oct     Index of production
06-Dec  0930 Oct     Manufacturing output         +0.1% m/m
06-Dec  0930 Oct     Manufacturing output         +0.3% y/y
06-Dec  0930 Oct     Industrial production        -0.4% m/m
06-Dec  0930 Oct     Industrial production        -0.9% y/y
09-Dec  0930 Oct     UK Trade
09-Dec  0930 Oct     Global goods balance      -Stg4.546 bln
09-Dec  0930 Oct     Non-EU trade balance      -Stg2.377 bln
09-Dec  0930 Oct     Total trade balance       -Stg2.855 bln

Italy: Economic Data Calendar
             Data                                                Median
Date    GMT   For   Release                      Prior Release  Forecast
------------------------------------------------------------------------
23-Nov  0830 Oct-04 Non-EU Trade Balance            -E812 mln
24-Nov  0830 Sep-04 Retail Sales, m/m, y/y        -0.1%,-1.9%
24-Nov  0830 Nov-04 ISAE SA Consumer Confidence      105.6
25-Nov  0830 Nov-04 ISAE SA Business Confid.Index     91.0
26-Nov  0830 Oct-04 Hourly Wages m/m, y/y         +0.1%,+2.5%
29-Nov  0830 Oct-04 PPI m/m, y/y                  +0.3%/+3.9%
30-Nov  0830 Nov-04 ISAE Services Confidence Index    +20
29-Nov  0930 Nov-04 Prelim `City` CPI
30-Nov  0830 Nov-04 Prel HICP m/m, y/y            +0.3%,+2.1% Oct final
30-Nov  0830 Nov-04 Prel CPI (NIC) m/m, y/y        0.0%,+2.0% Oct final
01-Dec  0845 Nov-04 Reuters Mfg PMI                   51.4
03-Dec  0800 Nov-04 New Car Registrations y/y        -8.21%
03-Dec  0845 Nov-04 Reuters Services PMI              54.4
10-Dec  0930  3Q-04 GDP q/q, y/y (final)          +0.4%,+1.3% (flash 3Q)
13-Nov  0830 Oct-04 Industrial Output SA,WDA m/m     +0.5%
13-Nov  0830 Oct-04 Industrial Output WDA y/y        +0.8%
17-Dec  0830 Oct-04 Industrial Orders m/m, y/y    +0.1%,+5.3%
17-Dec  0830 Oct-04 Industry Turnover m/m, y/y    -1.0%,+4.8%
17-Dec  0930 Oct-04 World Trade Balance             -E921 bln
17-Dec  0930 Oct-04 EU Trade Balance                -E141 mln
20-Dec  0930  3Q-04 SA Unemployment Rate              8.1%
12-Jan  0830  3Q-04 Gen. Govt Deficit/GDP            -1.0%

Spain: Economic Data Calendar
             Data                                               Median
Date    GMT* for      Release                  Prior Release   Forecast
------------------------------------------------------------------------
24-Nov  0800  3Q-04 Real SA GDP q/q, y/y        +0.6%,+2.6% (3Q flash)
25-Nov  0800 Oct-04 Producer Prices m/m,y/y     +0.3%,+4.6%
29-Nov  0800 Nov-04 Flash HICP y/y              +1.0%,+3.6%
30-Nov  0800 Oct-04 NSA Retail Sales y/y        +0.2%
03-Dec  0800 Oct-04 Industrial Product. m/m sa  +0.8%
03-Dec  0800 Oct-04 Industrial Product. y/y wda +3.4%
15-Dec  0800 Nov-04 HICP m/m, y/y               +1.0%,+3.6%
15-Dec  0800 Nov-04 National CPI m/m, y/y       +1.0%,+3.6%
15-Dec  0800 Nov-04 Core CPI m/m, y/y           +0.9%,+2.9%
17-Dec  0800  3Q-04 Monthly labor costs, y/y    +3.2%
17-Dec  0800  3Q-04 Hourly labor costs, y/y     +2.6%
20-Dec  0800 Oct-04 Industry Orders y/y         +9.4%
28-Jan  0800  4Q-04 Unemployment Rate           +10.54%
------
* = all times approximate

Canada: Economic Data Calendar
All release dates are subject to change

              Data
Date    ET    Thru   Release                        Prior Release

22-Nov  0830  Sep-04 Retail trade                   +0.8%
22-Nov  0830  Sep-04 Retail excl motor vehicles     +0.9%
23-Nov  0700  Oct-04 CPI                            +0.1% m/m, +1.8% y/y
23-Nov  0700  Oct-04 CPI core                       +0.3% m/m, +1.2% y/y
23-Nov  0830  Oct-04 Leading indicator              +0.3%
29-Nov  0830  Sep-04 Average hourly earnings        0.0%
29-Nov  0830  Sep-04 Payroll employment             -0.1%
30-Nov  0830  Sep-04 Real GDP at basic prices       +0.5%
30-Nov  0830  3Q-04  GDP based on income (saar)     +4.3%
01-Dec  0830  Oct-04 Industrial product prices      -0.6% m/m, +4.6% y/y
01-Dec  0830  Oct-04 Raw materials price            +0.3% m/m, +25.0% y/y
03-Dec  0700  Nov-04 Employment                     +34,300
03-Dec  0700  Nov-04 Unemployment rate              7.1%
06-Dec  0830  Oct-04 Building permits               -3.3%
06-Dec  1000  Nov-04 Ivey PMI                       56.5
07-Dec  0900  ---    BoC rate announcement          +25 bp to 2.25%
10-Dec  0830  3Q-04  Capacity Utilization           84.6%
---
Release times are in Eastern Time (ET). To get Greenwich Mean
Time (GMT) add 5 hours during standard time or 4 hours during
daylight saving time.

Mexico: Economic Data Calendar

All release dates are subject to change without notice

              Data
Date    ET    Thru   Release                        Prior Release

23-Nov  1530  3Q-04  Current account                -$449 mln
24-Nov  1530  Oct-04 Trade balance (p)              -$475 mln (r)
24-Nov  1530  Sep-04 Retail sales                   +4.2%
24-Nov  1530  Sep-04 Wholesale sales                +12.6%
24-Nov  1530  Nov-04 CPI (1st half)                 +0.51%
24-Nov  1530  Nov-04 Core CPI (1st half)            +0.19%
26-Nov  1000  ---    Bank of Mexico monetary policy unch, 57 mln pesos
26-Nov  1000  ---    Bank of Mexico mon pol report  ---
26-Nov  1530  Sep-04 Manufacturing employ (y/y)     -2.2%
26-Nov  1530  Sep-04 Manufacturing manhours (y/y)   -1.4%
29-Nov  1530  Sep-04 Maquiladora employ (y/y)       +7.7%
29-Nov  1530  Sep-04 Maquiladora manhours (y/y)     +7.9%
02-Dec  1530  Nov-04 Consumer confidence            -1.4%
03-Dec  1530  Sep-04 Leading Indicators             +0.3%
07-Dec  1530  Sep-04 Gross fixed investment         +9.3%
09-Dec  1530  Nov-04 CPI                            +0.69%
09-Dec  1530  Nov-04 Core CPI                       +0.33%
09-Dec  1530  Nov-04 PPI excl oil, w/ services      +0.33%
09-Dec  1530  Oct-04 Trade balance (r)              -$475 mln (r)
10-Dec  1000  ---    Bank of Mexico monetary policy unch, 57 mln pesos
13-Dec  1530  Oct-04 Industrial prod (y/y)          +5.5%
13-Dec  1530  Oct-04 Manufacturing prod (y/y)       +5.1%
15-Dec  1530  3Q-04  Global demand (NSA)            +5.8%
15-Dec  1530  3Q-04  Private consumption (NSA)      +5.4%
17-Dec  1100  Oct-04 Conf Board Leading Indicators  +1.2%
21-Dec  1530  Nov-04 Open unemployment              3.6%
18-Jan  1530  Feb05-AReserve Auction Amount         $22 mln/day
26-Jan  ---   4Q-04  Bank of Mexico inflation repor ---
04-Feb  ---   4Q-04  Federal Budget (ytd)           79.932 bln pesos
04-Feb  ---   4Q-04  Primary Surplus (ytd)          242.94 bln pesos
17-Feb  1530  4Q-04  GDP                            +4.4%
------
Notes:
--- = not applicable
NA = not available
Release times are Eastern Time (ET). To get Greenwich
Mean Time (GMT) add five hours during standard time or four
hours during daylight saving time. Subtract one hour to
get local time. Mexico changes its clocks the same days
as the United States.

Brazil: Economic Data Calendar

All release dates are subject to change without notice

              Data
Date     ET   Thru   Release                        Prior Release

24-Nov  0830  Oct-04 Current account                $1.8 bln
25-Nov  0730  Nov-17 Copom minutes                  ---
26-Nov  0730  Oct-04 IBGE unemployment              11.4%
26-Nov  0930  Oct-04 Primary surplus                R$4.7 bln
29-Nov  0730  Nov-04 FGV IGP-M general price index  +0.39%
30-Nov  0730  3Q-04  GDP                            +5.7%
01-Dec  1000  Nov-04 Trade balance                  $3.0 bln
03-Dec  0600  Nov-04 Fipe Sao Paulo inflation       +0.62%
07-Dec  ---   Nov-04 FGV IGP-DI producer prices     +0.53%
07-Dec  ---   Nov-04 FGV IPA-DI producer prices     +0.31%
08-Dec  0830  Nov-04 IBGE IPCA consumer prices      +0.44%
09-Dec  0830  Oct-04 IBGE industrial production     +7.6%
15-Dec  0730  Oct-04 IBGE retail sales              +8.87%
15-Dec  1600  ---    Copom policy decision          +50 bps, 17.25%
17-Dec  0730  Oct-04 IBGE industrial employment     +3.5%
17-Dec  0730  Oct-04 IBGE industrial manhours       +3.4%
17-Dec  0730  Oct-04 IBGE industrial wages          +10.2%
------
Notes:
--- = not applicable
NA = not available
Release times are Eastern Time (ET). To get Greenwich
Mean Time (GMT) add five hours during standard time or four
hours during daylight saving time. Add one hour to get
local time.

Japan: Economic Data Calendar

                   Data
Date    JT/GMT     Thru   Release                      Prior Release
------------------------------------------------------------------------
23-Nov                    Japan holiday, Thanksgiving Day
24-Nov  1400/0500  12-Oct BOJ Minutes from Oct 12/13 meet
18-Nov  0850/2350* 19-Nov Weekly Capital Flows Data (w/e 19/11)
25-Nov  0850/2350* Sep-04 Tertairy, all-industry activity indices
25-Nov  1300/0400         MOF 2-Year JGB Auction results
26-Nov  0850/2350* 19-Nov Weekly Capital Flows Data (w/e 19/11)
26-Nov  0830/2330* Nov-04 Tokyo Consumer Price data
26-Nov  0830/2330* Oct-04 Japan Nationwide CPI
29-Nov  0850/2350* Oct-04 Retail Sales
30-Nov  0830/2330* Oct-04 Unemployment Data
30-Nov  1900/1000  Nov-04 MOF Forex intervention data
07-Dec  0850/2350* Oct-04 Money Supply
07-Dec  0850/2350* 0ct-04 Bank Lending
07-Dec  1400/0500  Oct-04 Economy watchers Index
16-Dec     n/a            BOJ 2-day meet begins
17-Dec     n/a            BOJ 2-day meet ends, policy decision
17-Dec  1500/0600  Dec-04 BOJ Monthly Economic Report
* Those listed with "*" are GMT of the previous day.
All comparisons are annual unless otherwise stated.
All data are seasonally adjusted unless otherwise stated.