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  Mar Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec'03 Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan Dec'02

Growth key:

Very Weak Weak Neutral Strong Very Strong
Inflation key: Deflation Low Neutral Rising Very High


This table tracks the bond market implications of all major U.S. economic reports. The reports are divided into two categories: Economic Strength and Inflation.  Weak economic reports are considered "Bullish" for bonds while strong reports are "Bearish"


3/17/05 Lead Indic Feb up .1% X            
  Phila Fed Mar dn to +11.4 XX            
3/16/05 Ind Prod Feb up .3%   X          
  Cap Util Feb up to 79.4%     X        
  H Starts @ 2.195 mm units     XX        
  H Starts unch @ 2.195mm   X          
  Bldg Permit Feb dn 3% X            
  Bldg Permits @2.07mm unit     X        
3/15/05 Bus Inventory Jan up .9%     X        
  Ret Sales Feb up .5%     X        
  Ret Sales ex auto Feb up .4%   X          
  Empire St Idx unch @19.6   X          
3/10/05 Whsle Inventory Jan up 1.1%     X        
3/7/05 Cons Credit Jan up $11.5bn     X        
3/4/05 Unemp Rate Feb up to 5.4% X            
  Avg week Feb unch @33.7   X          
  Hrly Earning Feb flat @0% X       X    
  Payrolls Feb up 262K     X        
  Fact Orders Jan up .2%   X          
3/3/05 ISM Services unch @59.8   X          
  Productivity Rev O4 +2.1% X       X    
3/1/05 ISM Feb down to 55.3   X          
  Const Spend Jan up .7%     X        
2/28/05 Pers Inc Jan down 2.3% XX            
  Pers Spend Jan flat @ 0% XX            
  Chicago PMI Feb unch   X          
  New Home Sale Jan flat   X          
2/25/05 GDP Q4 Prel @ 3.8%     X Deflator Q4 Prel 2.1%   X  
  Exist Home Sale Jan unch   X          
2/24/05 Help Wtd Idx Jan up to 41     X        
  Durables Jan down .9% XX            
2/23/05         CPI Jan up .1% X    
          CPI Core up .2% X    
2/22/05 Cons Conf Feb dn slightly   X          
2/18/05         PPI Jan up .8%     XX
          PPI Core up .3%   X  
2/17/05 Lead Indic Jan down .3% XX     Import Price Jan up .2%   X  
  Phila Fed Feb up to 23.9     X        
2/16/05 Bldg Permit Jan up 2.5%     X        
  Bldg Permits @ 2.1 MM units     XX        
  House Starts up 5%     XX        
  House Starts @ 2.15MM     XX        
2/15/05 Ret Sales Jan down .3% XX            
  Ret Sales ex auto up .6%     X        
  Bus Inventory Dec up .2%   X          
2/10/05 Trade Def Dec dn slight to -56.4bn              
  Whlsle Inventory Dec up .4%   X          
2/7/05 Cons Credit Dec up to 3.1Bn   X          
2/4/05 Unemp Rate Jan dn to 5.2%     X        
  Hrly Earnings up .2%   X          
  Payrolls up 146K   X          
  Michigan Sentiment Jan unch   X          
2/3/05 ISM Services Dn to 59.2   X          
  Fact Orders Dec up .3%   X          
  Productivity PrelQ4 dn to .8%     X       X
2/1/05 Const Spend Dec up 1.1%     X        
  ISM Idx Jan dn 1 point 56.4   X          
1/31/05 Pers Inc Dec up 3.7%   X          
  Pers Spend up .8% XX            
  Chi PMI up slight to 62.4     X        
  New Home Sale Dec unch   X          
1/27/05 Durables Dec up .6%     X        
  GDP Q4 Adv up 3.1%   X          
1/25/05 Cons Conf Jan up slightly   X          
  Exist Home Sale Dec dn 3% X            
1/20/05 Lead Econ Ind Dec +.2%   X          
  Phila Fed Jan dn to 13.2 XX            
  Bldg Permit Dec unch   X          
  Bldg Permit @ 2021K     X        
  House Start up 11%     XX        
  NY Empire Idx Jan dn to 20.08 XX            
1/14/05 Bus Inv Nov up 1%     X PPI Dec dn .7% X    
  Cap Util Dec up to 79.2%     X PPI Core up .1% X    
  Ind Prod Dec up .8%     XX        
1/13/05 Ret Sale Dec up 1.2%     XX Import Price Dec +.5%     X
  Ret Sale ex auto up .3%   X          
1/12/05 Trade Bal Nov up to -$60bn              
1/10/05 Whlsl Inv Nov up 1.1%     X        
1/7/05 Cons Credit Nov - $8.7bn XX            
  Unemp Rate Dec unch @5.4%              
  Avg workwk unch 33.8hr   X          
  Hrly Earning Dec up .1% X            
  Payrolls up 157K   X x        
1/6/05 ISM Service Dec up 63.1     X        
1/4/05 Fact Order Nov up 1.2%     XX        
1/3/05 ISM Dec up to 58.6     X        
  Const Spend Nov - .4% X            
12/30/04 Help Wtd Idx Nov unch 36   X          
  Chicago PMI dn to 61.2     X        
12/29/04 Cons Conf Dec up to 102     X        
  Exist Home Sale up 3%     X        
12/23/04 New Home Sale Nov -12% XX            
  Pers Inc Nov up .3%   X          
  Pers Spend Nov up .2% X            
  Pers Saving Nov up .1% X            
12/22/04 GDP Q3 Final +4% saar     X Deflator Q3 up 1.4% X    
12/20/04 Lead Econ Ind Nov up .2%   X          
12/16/04 Phila Fed Dec up to 29.6       CPI Nov up .2% x X  
  Bldg Permit Nov dn 1% X     CPI Core up .2% x X  
  Bldg Permit Nov @ 1988K     XX        
  House Start Nov dn 12% XXX            
12/15/04 NY Empire St Index Dec up to 29.93     X        
12/14/04 Trade Bal Oct @ -$55.5Bn     X        
  Cap Util Nov unch 77.6%   X          
  Ind Prod Nov up .3%   X          
12/13/04 Ret Sales Nov up .1% X            
  Ret Sales ex auto up .5%     X        
12/10/04 Cons. Sent. Dec up to 95.7       PPI Nov up .5%     X
          PPI Core up .2%   X  
12/9/04 Whlsle Inventory Oct up 1.1%       Import Price Nov up .7%     X
12/3/04 Factory Order Oct up .5%     X        
  Unemp Rate Nov dn to 5.4%     X        
  Payrolls Nov up 112K   X          
  Avg Workwk Nov unch @ 33.7   X          
  Hrly Earning Nov up .1% X            
  ISM Services Nov up to 61.3     X        
12/1/04 ISM Idx Nov up to 57.8     X        
  Pers Inc Oct up .6%     XX        
  Pers Spend Oct up .7%     XX        
  Const Spend Oct FLAT X            
11/30/04 GDP Prel Q3 up 3.9%     X Deflator Prel Q3 @ 1.3% X    
  Chicago PMI Nov dn to 65.2   X          
  Cons Conf Nov down to 90.5 X            
11/24/04 New Home Sale Oct unch   X          
  Help Wtd Idx Oct unch @ 37   X          
  Durables Oct down .4% XX            
11/23/04 Exist Home Sales Oct unch   X          
11/18/04 Lead Econ Indic Oct down .3% XX            
  Phila Fed Survey Nov down to 20.7 X            
11/17/04 Housing Starts Oct up 6%     XX CPI Oct up .6%     XX
  Cap Util Oct up to 77.7%     X CPI Core up .2%   X  
  Ind Production Oct up .7%     XX        
11/16/04         PPI Oct up 1.7%     XX
          PPI Core up .3%   X  
11/15/04 NY Empire St Idx Nov up to 19.76     X        
11/12/04 Bus Inventory Sep up .1% X            
  Ret Sales Oct up .2%   X          
  Ret Sales ex-auto up .9%     X        
11/9/04 Whsle Inventory Sep up .5%     X Import Prices Oct up 2.7%     X
11/5/04 Unemp Rate Oct up to 5.5%   X          
  Payrolls Oct up 337K     X        
  Hrly Earnings Up .3%   X          
  Avg Workwk unch @ 33.8hrs   X          
11/3/04 Factory Orders Sep dn .4% X     Productivity Q3 up 1.9%   X  
11/1/04 Pers Inc Sep up .2%   X          
  Pers Spend up .6%     X        
  Cons Credit Sep up $9.8 Bn     X        
  ISM Index Oct unch @ 56.8   X          
10/29/04 GDP Q3-Adv up 3.7%     X Employ Cost Idx Q3 up .9%   X  
  Chicago PMI Oct up to 68.5     X Deflator Adv Q3 up 1.3% X    
10/28/04 Help Wtd Idx Sep unch @ 36   X          
10/27/04 Durables Sep up .2%   X          
  New Home Sale Sep up 3.5%     X        
10/26/04 Cons Conf Oct down to 92.8 X            
10/25/04 Exist Home Sale Sep up 3%     X        
10/21/04 Lead Econ Indic Sep down .1% XX            
  Phila Fed Oct. doubles to 28.5     X        
10/19/04 Bldg Permit Sep up 1.5%     X CPI Sep up .2%   X  
  Permits @ 2 MM units     XX CPI Core up .3%   X  
  House Starts down 6% X            
10/15/04 Ind Prod Sep up .1% X            
  Cap Util Sep unch @ 77.2%   X          
  Ret Sales Sep up 1.5%     X        
  Sales ex autos up .6%     X        
  NY Empire State dn to 17.43 X            
  Bus Inventory Aug up .7%     X        
10/14/04 Trade Deficit up to $54bn     X Import Price Sep up .1% X    
10/8/04 Whsle Inventory Aug up .9%     X        
  Unemp Rate Sep unch 5.4%   X          
  Payrolls up 96k   X          
  Hourly Earn up .2%   X          
  Avg Week unch @ 33.8 hrs   X          
10/4/04 Factory Orders Aug -.1% X            
10/1/04 Const Spend Aug up .8%     X        
  ISM Index Sep unch @ 58.5     X        
9/30/04 Chicago PMI Sep up to 61.3     X        
  Pers Spend Aug Flat X            
  Pers Income Aug up .4%   X          
9/27/04 New Home Sales up 9%     XX        
9/24/04 Durables Aug down .5% X            
  Lead Econ Indic down .3% XX            
9/21/04 House Starts unch   X          
  Bldg Permit Aug down 5% X            
9/16/04 Phila Fed Idx down to 13.4 X     CPI Aug up .1% X    
          CPI Core up .1% X    
9/15/04 Machine Tools Jul up 77% y-y     XX        
  Ind Prod Aug up .1% X            
  Cap Utilization unch @ 77.3%   X          
  NY Empire St Idx Sep up to 28.3     X        
  Bus Inventory Jul up .9%     X        
9/14/04 Ret Sales Aug down .3% XX            
  Ret Sales ex-auto up .2%   X          
9/10/04         PPI Aug down .1% XX    
          PPI Core down .1% XX    
9/9/04 Whlsle Inventories Jul up 1.3%     X Import Price Aug up .4%     X
9/8/04 Cons Credit Jul double to 10.9Bn     XX        
9/3/04 Unemp rate down to 5.4%     X        
  Payrolls Aug up 144k     X        
  Hrly Earnings Aug up .3%   X          
  Avg. workwk unch @ 33.8hrs   X          
9/2/04 Factory Orders Jul up 1.3%     X        
9/1/04 ISM Aug down to 59.0   X          
  Const Spend Jul up .4%     X        
  Auto Sales Aug down 6% X            
  Truck Sales down 2.5% X            
8/31/04 Chicago PMI Aug dn to 57.3     X        
  Cons Confidence dn to 98.2 X            
8/30/04 Pers Spending up .8%     XX        
  Pers Income Jul up .1% XX            
8/27/04 GDP Q2 Prelim @ 2.8% X XX   Deflator Prelim= 3.2%   X x
8/26/04 Durables Jul up 1.7%     XX        
  New Home Sale down 6.3% XX            
8/24/04 Exist Home Sale Jul dn 3% X            
8/19/04 Lead Econ Indic Jul -.3% XX            
  Phila Fed Idx Aug dn to 28.5 X            
8/17/04 Bldg Permit Jul up 6.8%     XX CPI Jul down .1% XX    
  Housing Starts up 8.3%     XX CPI Core Jul up .1% X    
  Ind Prod Jul up .4%     X        
  Cap Util Jul up to 77.1%     X        
8/16/04 NY Empire St Idx Aug dn to 12.6              
8/13/04 Bal of Trade Jun = -$55Bn     X PPI Jul up .1% X    
          PPI Core up .1% X    
8/12/04 Retail Sales Jul up .7%     XX Import Price Jul + .1% X    
  Ret Sales ex auto up .2%   X          
  Bus Inventory Jun up .9%     X        
8/9/04 Whlsl Inventory Jun up 1.1%     X        
8/6/04 Unemp Rate Jul dn to 5.5%   X          
  Avg Workweek up to 33.7   X          
  Hrly Earnings up .3%   X          
  Payrolls up 32K X            
  Cons Credit Jun down  X            
8/4/04 ISM Services up to 64.8     X        
  Factory Orders Jun up .7%     X        
8/3/04 Pers Spending down .7% XX            
  Pers Income Jun up .2%   X          
  Auto Sales Jul up 12%     XX        
  Truck Sales Jul up 18%     XX        
8/2/04 Const Spend Jun down .3% X            
  ISM Idx Jul unch @ 62%     X        
7/30/04 GDP Adv. Q2 up 3%   X   Deflator Adv up 3.2%     X
  Chicago PMI Jul up to 64.7     X        
7/29/04 Help Wtd Idx Jun unch @38   X          
7/28/04 Durables Jun up .7%     X Emp Cost Idx Q2 up .9%   X  
7/27/04 Cons Conf Jul up to 106.1     X        
  New Home Sales unch   X          
7/26/04 Exist Home Sale Jun up 2%     X        
7/22/04 Lead Econ Indic Jun dn .2% XX            
7/20/04 Bldg Permits @ 1.99mm units     X        
  Bldg Permits down 8% XX            
  House Starts @ 1.80mm units     X        
  House Starts Jun dn 8% XX            
7/16/04         CPI Jun up .3% X X  
          CPI Core up .1%      
7/15/04 Phila Fed Idx Jul up to 36.1     X PPI Jun down .3% XX    
  NY Empire St Idx up to 36.5     X PPI Core Jun up .2%   X  
  Ind Prod Jun down .3% X            
  Cap Util down to 77.2% X            
  Bus Inventory May up .4%     X        
7/14/04 Retail Sales Jun down 1.1% XX     Import Price Jun unch X    
  Sales less autos down .2% X            
7/13/04 Bal of Trade May dn to -$46B   X          
7/9/04 Whsl Inventories May up 1.2%     X        
7/8/04 Cons Credit May up to $8.2B     X        
  Jobless claims @ 310K     X        
7/6/04 ISM Services Idx dn to 59.9   X          
7/2/04 Factory Orders May dn .3% X            
  Avg Workwk Jun unch   X          
  Hrly Earnings Jun up .1% X            
  Payrolls up 112K     X        
  Unemp Rate unch @ 5.6%   X          
7/1/04 Auto Sales Jun dn 12.2% XX            
  Truck Sales Jun dn 16.4% XX            
  Const. Spend May up .3%   X          
  ISM Idx Jun dn to 61.1   X          
6/30/04 Chicago PMI Jun dn to 56.4 X            
6/29/04 Cons Conf Jun up to 101.9     XX        
6/28/04 Pers Inc May up .6%     X        
  Pers SPending May up 1.0%     XX        
6/25/04 Exist Home Sales May down 2% X     Deflator Q1 Final 2.9%   X  
  GDP Q1 Final Up 3.9%   X          
6/24/04 Durables May down 1.6% X            
  Help Wtd Idx May Unch   X          
  New Home Sales May up 15%     XX        
6/18/04 Curr Ac Deficit Q1 up to $144B     X        
6/17/04 Lead Indicators May up .5%     XX PPI May up .8%     XX
  Phila Fed May up 5 pts to 28.9     X PPI Core May up .3%   X  
6/16/04 Indus Production May up 1.1%     XX        
  Bldg Permits May up 3.5%     XX        
  Housing Starts May down slightly   X          
  Cap Utilization May up to 77.8     X        
6/15/04 NY Empire St Idx Jun unch @ 30.2   X   CPI May up .6%     XX
  Mich Sentiment Pre Jun up @ 95.2     X CPI Core May up .2%   X  
  Bus Inventories up .5%     X        
6/14/04 Ret Sales May up 1.2%     XX        
  Ret Sales ex auto up .7%     X        
6/10/04         Import Price May up .2%   X  
6/9/04 Whls Inventory Apr dn .1% X            
6/7/04 Cons Credit Apr dn to 4 bn X            
6/4/04 Unemp Rate May unch   X          
  Payrolls May up 248K     X        
  Avg workwk up slightly   X          
  Hrly Earnings May up .3%   X          
6/3/04 ISM Serv Idx May dn to 65.2 X            
  Factory Order Apr dn 1.7% X            
  Jobless Claims @ 339 K     X        
6/2/04 Auto Sales May up 9%     XX        
  Truck Sales May up 9%     XX        
6/1/04 ISM Idx May unch @ 62.8   X          
  Const Spend Apr up 1.3%     X        
5/28/04 Chicago PMI May up to 68     X        
  Pers Savings Rate Up Apr X            
  Pers Inc Apr up .6%     X        
  Pers Cons Exp Apr up .3%   X          
5/27/04 Help Wtd Index Apr unch    X   Deflator Q1 Pre 2.6%   X  
  GDP Prelim Q1 up 4.4%     X        
5/25/04 Durables Apr down 2.9% XX            
  Exist Home Sale Apr up 2%     X        
5/20/04 Phila Fed May down to 23.8              
  Lead Econ Indic Apr .1% X            
5/18/04 House Starts @ 1.97 MM units     X        
  House Starts Apr dn 2% X            
  Bldg Permits Apr up 4%     X        
  NY Empire St Idx May dn to 30.2 X            
5/14/04 Bus Inventories Mar Up .7%     X CPI Apr @ .2% X    
  Capacity Util Apr up to 76.9%   X   CPI Core Apr @.3%   X  
  Ind Prod Apr up .8%     XX        
  Mich Sentiment May unch @ 94.2   X          
5/13/04 Retail Sales Apr down .5% X            
  Ret Sales ex auto Apr down .1% X            
5/12/04         Import Price Apr Up .3%   X  
5/7/04 Cons. Credit Mar up to $5.7Bn   X          
  Unemp Rate Apr dn to 5.6%     X        
  Jobs up 288K Apr     X        
  Hrly earnings Up .3%   X          
  Avg workwk unch at 33.7   X          
5/6/04 Productivity Q1 @3.5%     X        
  Initial Claims dn to 315K     X        
5/4/04 Fact Orders Mar up 4.3%     XX        
5/3/04 ISM Index Apr unch at 62.4   X          
  Const Spend Mar Up 1.5%     XX        
4/30/04 Chicago PMI Apr up to 63.9     X        
  Pers Income Mar Up .4%     X        
  Pers Spend Mar Up .4%   X          
4/29/04 GDP Q1 Prelim @ 4.2%     X Deflator Prelim @ 2.5%   X  
  Jobless Claims @ 338K     X Emp Cost Idx Q1 @ 1.1% X    
  Help Wtd Index Unch @ 39 X            
4/27/04 Cons Confidence Apr up to 92.9     X        
  Exist Home Sales Mar up 5.5%     XX        
4/26/04 New Home Sale Mar up 8%     XX        
4/23/04 Durables Mar up 3.4%     XX        
4/22/04 Jobless Claims @ 353K   X   PPI Mar Up .5%     X
          Core PPI Mar Up .2%   X  
4/19/04 Lead Econ Indicators Mar up .3%   X          
4/16/04 Capacity Util Mar -slightly to 76.5%   X          
  Housing Start Mar @ 1.946 MM units     XX        
  Housing Starts up 6%     XX        
  Bldg Permits Mar up 2%     X        
4/15/04 NY Empire State Idx Up to 36     X        
  Phila Fed Idx Apr Up to 32.5     XX        
4/14/04         CPI Mar up .5%     X
          Core CPI Mar up .4%     X
4/13/04 Bus Inventory Feb up .7%     X        
  Ret Sales Mar up 1.8%     XX        
  Ret Sales ex auto up 1.7%     XX        
4/08/04 Whsle Inventory Feb up 1.2%     X        
4/07/04 Cons Credit Feb up $4.2Bn   X   Export Price Mar +.6%     X
          Import Price up .2%   X  
4/05/04 ISM Serv Idx Mar up to 65.8              
4/02/04 Unemp Rate Mar up to 5.7% X            
  Payrolls Mar Up 308K     XX        
  Hrly Earnings Mar up .1% X            
  Avg Workweek unch   X          
4/01/04 Const spend Feb down .1% X     PPI Feb up .1% X    
          PPI Core Feb up .1% X    
3/31/04 Chicago PMI Mar dn to 57.6   X          
3/26/04 Pers Inc Feb up .4%     X        
  Pers Spending Feb up .2%   X          
3/25/04 Jobless claims @ 339K     X Deflator Q4 final +1.5% X X  
  Exist Home Sale Feb unch   X          
  GDP Q4 Final up 4.1%     X        
3/24/04 Durable Orders Feb up 2.5%     XX        
  New Home Sale Feb up 6.3%     XX        
3/18/04 Phila Fed Idx Mar down to 24.2 X     PPI Jan up .6%     XX
  Lead Econ Indic Feb unch X     PPI Core Jan up .3%   X  
  Jobless Claims @ 336K     X        
3/16/04 House Start Feb down 5% XX     CPI Feb Up .3%   X  
  Bldg Permits Feb down 3% X     CPI Core Up .2% X    
  Bldg Permit Feb @ 1.9MM units     X        
3/15/04 Ind Prod Feb up .7%     X        
  Cap Util Feb up to 76.6%   X          
  NY Empire St Idx Mar dn to 25.3 X            
3/12/04 Bus Inventories Jan up .1% X            
3/11/04 Retail Sales Feb up .6%     X Import price Feb up .4%     X
  Ret Sales ex auto Feb flat X            
3/10/04 Whsl Inventory Jan up .1% X            
3/5/04 Cons Credit Jan  ++$14.3bn     XX        
  Unemp Rate Feb unch   X          
  Payrolls Feb up 21K X            
  Hrly Earnings Feb up .2%   X          
  Avg Workwk Feb unch   X          
3/4/04 Fact Orders Jan dn .5% X            
3/3/04 ISM Services Dn to 60.8   X          
3/1/04 ISM Feb dn to 61.4   X          
  Const spend Jan dn .3% X            
  Pers Spend Jan up .4%     X        
  Pers Inc Jan up .2%   X          
2/27/04 Chicago PMI Feb dn to 63.6   X          
  GDP Prel Q4 @ 4.1%     X Deflator Q4 @ 1.2% X    
2/26/04 Durables Jan down 1.8% X            
2/25/04 Ex. Home Sale Jan dn 5.5% X            
2/24/04 Cons Conf Feb dn to 87.3 X            
2/20/04         CPI Jan up .5%     X
          CP Core Jan up .2%   X  
2/19/04 Leading E. Indic Jan up .5%     X PPI Jan @      
  Phila Fed Feb down to 31.4 X     PPI Core Jan @      
2/18/04 House Starts Jan @ 1.903mm     X        
  House Start Jan down 7.9% XX            
  Bldg Permit Jan down 2.7% X            
2/17/04 Ind Prod Jan up .8%     XX        
  Cap Util Jan up to 76.2%     X        
2/12/04 Bus Inventory Dec up .3%   X   Imp prices Jan up .7%     X
  Ret Sales ex auto Jan up .9%     X        
  Ret Sales Jan down .3% X            
2/9/04 Whsl Inventory Dec up .6%     X        
2/6/04 Cons. Credit Dec up $6.6bn     X        
  Unemp Rate Jan dn .1= 5.6%     X        
  Payrolls Jan up 112K     X        
  Hrly Earn Jan up .1% X            
  Avg Workweek up .2 hrs   X          
2/4/04 Factory Orders Dec up 1.1%     X        
2/3/04 Truck Sales Jan down 11.2% XX            
  Auto Sales Jan down 8.6% XX            
2/2/04 ISM Idx Jan unch @ 63.6     X        
  Pers Spend Dec up .4%     X        
  Pers Inc Dec up .2%   X          
1/30/04 Chicago PMI Jan up to 65.9     X Deflator Ad Q4 @ 1% X    
  GDP Adv, Q4 up 4.0%     X        
  Help Want Idx Dec unch @38   X          
1/28/04 New Home Sale Dec  - 5.1% X     Emp Cost Idx Q4 +.7%   X  
  Durables Dec flat X            
1/27/04 Cons Conf Jan up to 96.8     X        
1/26/04 Exist Home Sale Dec + 5.3%     XX        
1/22/04 Leading Indic Dec up .2%   X          
  House Starts Dec up 1.6%     X        
  Bldg Permits Dec up 3.1%     X        
1/16/04 Bus. Inventory Nov up .3%   X          
  Cap Util Dec unch @ 75.8% X            
  Ind Prod Dec Up .1% X            
1/15/04 Phila Fed Idx Jan up to 38.3     X CPI Dec Up .2% X    
  Ret sales Dec up .5%     X Core CPI Dec up .1% X    
  Ret sales ex autos up .1% X            
  NY Empire Index up to 39.2     X        
  Jobless claims @ 343K     X        
1/14/04 Trade Bal Nov dn to $38Bn X     PPI Dec up .3%   X  
          Core PPI Down .1% XX    
1/13/04         Import price Dec +.1% X    
1/09/04 Unemp Rate Dec dn to 5.7%     X        
  Payrolls Dec up 1,000 X            
  Hrly Earnings Dec up .2%   X          
  Avg Week Dec dn to 33.7   X          
  Whsle Inventory Nov +.5%   X          
1/6/04 Factory Orders Nov -1.4% X            
  Const Nov up 1.2%     X        
1/02/04 ISM Index Dec up to 66.2     X        
12/24/03 New Home Sale Nov + 7%     XX        
  Jobless claims @353K     X        
  Durables Nov down 3.1% XX            
12/28/03 Pers Spend Nov Up .4%   X          
  Personal Inc Nov up .5%     X        
12/18/03 Phila Fed Index Dec up to 32.1     X        
  Lead Econ Indicators Nov Up .3%     X        
  Initial Jobless claims @ 353K     X        
12/16/03 House Starts Nov up 5%     XX CPI Nov down .2% X    
  Bldg Permits Nov down 6% X     CPI Core Nov down .1% X    
  Industrial Production Nov up .9%     X        
  Capacity Util Nov up .6%     X        
12/15/03 NY Empire State Index Dec down 3 X            
12/12/03 Mich. Sentiment Prelim Dec down 4 X     PPI Nov Down .3% X    
          Core PPI Down .1% X    
12/11/03 Ret Sales Nov up .9%     XX Import Prices Nov up .2%   X  
  Sales ex auto Nov up .4%     X        
  Bus Inventories Oct up .4%   X          
12/9/03 Whlsl Inventory Oct up .5%     X        
12/5/03 Cons Credit Oct up .9 Bn X     Hrly Earnings Nov up .1 X    
  Factory Orders Oct up 2.2%     X        
  Avg Workweek Nov unch 33.9   X          
  Unemp Rate Nov down to 5.9%   X          
  Payrolls Nov up 57K   X          
12/3/03 ISM Services Index down to 60   X          
  Productivity Q3 Rev to 9.4%              
12/1/03 Const Spend Oct up .9%     XX        
  ISM Index Nov up to 62.8              
  Truck Sales Nov up 5%     X        
  Auto Sales Nov up 9%     XX        
11/26/03 New Home Sale Oct down 4% X            
  Help Wtd Idx Oct unch @ 37 X            
  Chicago PMI Nov up to 64.1     XX        
  Pers Income Oct up .4%     X        
  Pers Spending Oct unch X            
  Jobless claims @ 351k     X        
  Durables Oct up 3.3%     XX        
11/25/03 Exist Home sales Oct dn 4% X     Deflator Q3 Prel @ 1.7% X    
  Cons Confidence Nov @ 91.7     X        
  GDP Q3 Prelim @ 8.2%     X        
11/20/03 Phila Fed Nov down slightly   X          
  Leading Indicators Oct up .4%     X        
  Jobless Claims down to 355k     X        
11/19/03 Housing Start Oct up 3%     X        
  Bldg Permit Oct 1.97MM units     XX        
  Bldg Permit Oct up 6.5%     XX        
11/18/03         CP Oct unch XX    
          Core CPI up .2%   X  
11/17/03 NY Empire St Idx Nov up to 41.0     X        
  Bus. Inventories Sep up .3%     X        
11/14/03 Ind Prod Oct up .2%   X   PPI Oct      
  Cap Util Oct up slightly to 75%   X   Core PPI Oct      
  Ret Sales Oct down .3% X            
  Ret Sales ex Auto up .2%   X          
  Mich Sentiment Nov Pre up to 93.5     X        
11/13/03 Jobless claims @ 366K   X   Import price Oct - .1% X    
11/07/03 Cons Credit Sep up to $15.1b     XX        
  Whsle Inventory Sep up .4%     X        
  Unemp Rate Oct dn to 6.0%   X          
  Payrolls Oct up 126K jobs     X        
  Hrly earnings Oct up .1% X            
  Avg workweek Oct              
11/06/03 Productivity Q3 prelim up 8.1% X       X    
  Jobless claims @ 348 K     X        
11/5/03 Factory Orders Sep up .5%     X        
11/03/03 ISM Index Oct up to 57.0     X        
  Const SPend Sep up 1.3%     X        
  Truck Sales Oct down 6.3% XX            
  Auto Sales Oct down 5.5% X            
10/31/03 Chicago PMI Oct up to 55.0     X        
  Pers Spending Sep down .3% X            
  Pers Income Sep up .3%   X          
10/30/03 GDP Q3 Advanced up 7.2%     XX Deflator Q3 Adv @ 1.7% X    
  Help Wanted Index Sep unch   X   Employ Cost Idx Q3 1.0% X    
10/28/03 Cons Conf Oct Up to 81.1     X        
  Durables Sep up .8%     XX        
10/27/03 New Home Sales Sep unch   X          
  Exist Home Sales Sep up 3.5%     X        
10/20/03 Leading Econ Indic Sep down .2% X            
10/17/03 Housing Starts Sep @ 1.888M     X        
  Housing Starts Sep up 5%     XX        
  Bldg Permits Sep down 3% X            
10/16/03 NY Empire State Idx Oct up to 33.7     X        
  Phila Fed Idx Oct up to 28.0     X        
  Indus Prod Sep up .4%     X        
  Cap Util Sep unch   X   CPI Sep up .3%   X  
  Bus Inventories Aug down .4% X     Core CPI Sep up .1% X    
10/15/03 Ret Sales Sep ex auto up .3%   X          
  Retail Sales Sep down .2% X            
10/10/03         PPI Sep Up .3%   X  
          PPI Core Sep unch X    
10/08/03 Whlsl Inventories Aug down .2% X     Import Prices Sep up .2%   X  
10/07/03 Cons Credit Aug @ $8.2 bn     X        
10/03/03 Unemp Rate Sep unch @ 6.1%   X          
  Payrolls Sep up 57K     X        
  Hrly Earnings Sep down .1% X            
  Avg. Workweek Sep unch   X          
10/02/03 Factory Orders Aug down .8% X            
10/01/03 Const. Spend Aug up .2%   X          
  ISM Index Sep down to 53.7   X          
9/30/03 Chicago PMI Sep down to 51.2   X          
  Cons Conf Sep down to 76.8 X            
9/29/03 Pers Inc Aug up .2%   X          
  Pers Spending Aug up .8%     X        
9/25/03 Durables Aug down .9% X            
  Exist Home Sale Aug up 5.7%     X        
  Help Wanted Idx Aug down to 37 X            
  New Home Sale Aug unch   X          
9/18/03 Phila Fed Idx Sep Down to 14.6   X          
  Lead Econ Indic Aug Up .4%     X        
9/17/03 Hous Starts Aug down 4% X            
  Bldg Permits Aug up 4%     X        
9/15/03 Ind Prod Aug up .1%   X   CPI Aug up .3%   X  
  Cap Util Aug unch   X   CPI core Aug up .1% X    
  NY Empire State Ix Sep up to 18.35     X        
  Bus Inventories Jul down .1% X            
9/12/03 Retail Sales Aug up .6%     X        
  Retail Sales ex auto Aug up .7%     X        
9/11/03 Jobless Claims at 422K X     Import Prices Aug dn .2% X    
9/9/03 Wlsl Inventories Jul unch   X          
  Cons Credit Jul up to $6.0Bn     X        
9/5/03 Unemp Rate Aug dn slight to 6.1%   X          
  Hrly Earnings Au Up .1%   X          
  Payrolls Aug down 93K X            
  Avg Workweek Aug unch at 33.6   X          
9/4/03 ISM Services Aug unch at 65.1   X          
  Factory Orders Jul up 1.6%     X        
  Productivity Rev Q2 to up 6.8% X            
9/3/03 Const Spending Jul up .2%   X          
  ISM Index Aug up to 54.7     X        
8/29/03 Chicago PMI Aug up to 58.9     X        
  Pers Spending Jul Up .8%     X        
  Pers Income Jul up .2%   X          
8/28/03 Help Wtd Index Jul unch   X   Deflator Prelim Q2  .8% X    
  GDP Prelim Q2 Up 3.1%     X        
8/26/03 Cons Conf Aug up to 81.3     X        
  Durable Orders Jul up 1%     X        
  New Home Sales Jul down 2% X            
  Exist Home Sales Jul up 5%     X        
8/21/03 Phila Fed Index Aug up to 22.1     X        
  Lead Econ Indic Jul up .4%     XX        
8/19/03 Housing Starts Jul up 2%     X        
  Bldg Permits Jul Down 2.5% X            
8/15/03 Cap Util Jul up slightly to 74.5%   X   CPI Jul Up .2%   X  
  Ind Prod Jul Up .5%     X CPI Core Jul Up .2%   X  
8/14/03         PPI Jul Up .1% X    
          PPI Core Jul Up .2%   X  
8/13/03 Bus Inventories Jun Up .1%   X   Import Prices Jul up .1% X    
  Ret Sales ex auto Jul up .8%     X        
  Retail Sales Jul up 1.4%     X        
8/7/03 Cons Credit Jun drops $.4Bn X            
  Whsle Inventories Jun unch   X          
  Productivity Q2 at 5.7% X            
  Jobless Claims at 390K   X          
8/5/03 ISM Services Jul up to 65.1     X        
  Factory Orders Jun up 1.7%     X        
8/01/03 ISM Index Jul up to 51.8     X        
  Const Spending Jun unch   X          
  Unemp Rate Jul down to 6.2%   X          
  Pers Spending Jun Up .3%   X          
  Pers Income Jun up .3%   X          
  Payrolls Jun down 44K X            
  Hrly Earnings Jul unch   X          
  Avg Workweek Jul unch   X          
  Truck Sales Jul up 8%     XX        
  Auto Sales Jul up 5%     X        
7/31/03 GDP Adv Q2 2.4%   X   Deflator Adv Q2 up 1% X    
  Chicago PMI up to 55.9     X Emp Cost Idx Q2 up .9% X    
7/29/03 Cons Conf Jul down to 76.6 X            
7/25/03 Exist Home Sales Jun unch   X          
  New Home Sales Jun up 4%     X        
  Durables Jun Up 2.1%     X        
7/21/03 Leading Econ Indic Jun up .1%   X          
7/17/03 Bldg Permits Jun up .5%     X        
  Housing Starts Jun up 3.5%     X        
7/16/03 Ind Prod Jun unch at up .1%   X   CPI Jun Up .2%   X  
  Cap Util Jun unch at 74.3%   X   CPI Jun core flat X    
  Bus Inventories May down .2% X            
7/15/03 Retail Sales Jun Up .5%     X        
  Retail Sales ex auto Jun Up .7%     X        
7/08/03 Jobless Claims at 439K X     Core PPI Jun down .1% X    
  Wlsle Inventories May down .3% X     Import Prices Jun up .5%     X
  Cons Credit May down to $7.3Bn   X   PPI Jun Up .5%     X
  Chicago PMI up slightly to 52.5     X        
  ISM Services up to 60.6     X        
7/03/03 Unemp rate up to 6.4% X            
  Payrolls down 30K jobs X            
  Initial Claims at 430K X            
  Hrly Earnings Jun up .2%   X          
  Avg Workweek Jun unch @ 33.7hr   X          
7/01/03 Factory Orders May up .4%     X        
  ISM Index Jun up slightly to 49.5   X          
  Const Spending May down 1.7% X            
  Truck Sales Jun unch   X          
  Auto Sales Jun up 4%     X        
6/27/03 Pers Spending May up .1% X            
  Pers Income May up .3%   X          
  Help Wanted Index May unch 36 X            
6/26/03 GDP Final Q1 Up 1.4% X            
6/25/03 Durables Orders May down .3% X     Deflator Q1 Final up 2.4%   X  
  Exist Home Sales May up .1%   X          
  New Home Sales May up 12%     XX        
6/24/03 Cons Conf Jun unch at 83.5   X          
6/19/03 Leading Indicators May up 1.0% X            
  Phila Fed Index Jun @ 4.0   X          
6/17/03 Bldg Permits May Up 4.5%     X CPI May flat X    
  Housing Starts May Up 5%     XX CPI Core May Up .3%     X
  Cap Utilization May flat   X          
  Industrial prod May Up .1% X            
6/12/03 Retail Sales May Up .1%   X   PPI May Down .3% X    
  Ret Sales ex auto May Up .1%   X   PPI Core May Up .1% X    
  Bus Inventories Apr Up .1%   X          
6/09/03 Whlsle Inventories Apr Down .1% X     Import Prices May Dn .2% X    
6/06/03 Factory Orders Apr Down 2.9% X     Hrly Earnings May Up 3.%   X  
  Avg Workweek May flat   X          
  Payrolls May Down 17K X            
  Unemp Rate May Up to 6.1% X            
  Consumer Credit Apr Up $10.7Bn     XX        
6/4/03 ISM Services May Up to 54.5     X        
6/3/03 Auto Sales May flat   X          
  Truck Sales May flat   X          
  ISM Index May up to 49.4   X          
  Const Spending Apr Down .3% X            
5/30/03 Pers Income Apr flat X            
  Pers Spending Apr Down .1% X            
  Chicago PMI May Up to 52.2     X        
5/29/03 Help Wanted Index Apr Down to 35 X            
5/27/03 Cons Confidence May up to 83.8     X        
  Exist Home Sales Apr up 6%     X        
  New Home Sales Apr up 1%   X          
  Durable Orders Apr Down 2.4% X            
5/19/03 Leading Indicators Apr Up .1% X            
5/16/03 Phila Fed May @ 4.8 X     CPI Apr Down .3% X    
  Bldg Permits Apr up 1.5%   X   CPI Core Apr flat X    
  Housing Starts Apr Down 5% X            
5/15/03 Bus Inventories Mar Up .4%   X   PPI April Down 1.9% X    
  Cap Utilization Apr Dn to 74.4% X     PPI Apr Core Down .9% X    
  Ind Production Apr Dn .5% X            
5/14/03 Retail Sales Apr Down .1% X            
  Ret Sales ex Auto Down .9% XX            
5/07/03 Whsle Inventories Mar Up .5%     X        
  Cons Credit Mar Up $0.9B X            
5/5/03 ISM Services Apr Up to 50.7     X        
5/2/03 Avg Workweek Apr dn to 34 X     Hrly Earnings Apr up .1% X    
  Payrolls April Down 48K X            
  Unemp Rate up to 6.0% X            
  Factory Orders Mar Up 2.2%     X        
5/01/03 Auto Sales Apr unch   X   Productivity Q1 Up 1.6% X    
  Truck Sales Apr up 10%     X        
  Jobless claims Up 448K X            
  Const Spending Mar Down 1% X            
  ISM Index Apr down to 45.4 X            
4/30/03 Chicago PMI Apr dn to 47.6 X            
4/29/03 Consumer Confidence Apr Up to 81     X        
4/28/03 Pers Income Mar Up .4%     X Emp Cost Idx Q1 Up 1.3   X  
  Pers Spending Mar Up .4%     X        
4/25/03 GDP Adv Q1 @ 1.6% X            
  Exist Home Sales Mar Down 5% X            
  New Homes Sales Mar up 5%     X        
4/24/03 Durable Orders Mar Up 2%     X Q1 Deflator Adv @ 2.5%   X  
  Jobless Claims @ 455K X            
  Help Wanted Idx Mar dn to 38 X            
4/21/03 Leading Indicators Apr Down .2% XX            
4/17/03 Phila Fed April @ -8.8 X            
4/16/03 Jobless claims @ 442,000 X     CPI March up .3%   X  
  Bldg Permits Mar down 7% X     CPI Core Mar 0% X    
  H Starts Mar up 8.%     X        
4/15/03 Ind Prod Mar down .5% XX            
  Cap Util Mar dn to 74.8% X            
4/14/03 Bus Inventories Feb up .6%     X Import Prices Mar up .9%     X
4/11/03 Retail Sales Mar up 2.1%     XX PPI Mar up 1.5%     X
  Ret Sales ex auto Mar up 1.1%     X PPI Core Mar up .7%     XX
4/8/03 Whlsle Inventories Feb up .3%     X        
4/7/03 Cons Credit Feb down to $1.5Bn X            
4/4/03 Payrolls Mar down 108K X            
  Unemp Rate Mar unch @ 5.8%   X          
  Hrly Earnings Mar up .1% X            
  Avg Week Mar unch   X          
4/03/03 ISM Services Mar Dn to 47.9 X            
  Initial Claims @ 445K X            
4/2/03 Factory Orders Feb down 1.5% X            
4/1/03 Auto Sales Mar up 7.6%     X        
  Truck Sales Mar up 2.8%     X        
  ISM Index Mar down to 46.2 X            
3/31/03 Chicago PMI Mar down to 48.4 X            
3/28/03 Pers Income Feb up .3%   X   Final Q4 Deflator 1.8% X    
  Pers Spending Feb flat at 0% X            
  Final Q4 GDP @ 1.4% X            
3/26/03 New Home Sales Feb dn 8% X            
  Durables Feb down 1.2% X            
3/25/03 Exist Home Sales Feb dn 4% X     CPI Feb  up .6%     X
  Cons Confidence Mar dn to 62.5 X     CPI Core Feb up .1% X    
3/20/03 Philly Fed Index Mar down to -8.0 XX            
  Lead Econ Indicators Feb dn .4% XX            
  Jobless claims at 421K X            
3/18/03 Housing Starts Feb down 10.9% XX            
  Bldg Permits Feb unch   X          
3/14/03 Cap Util Feb unch at 75.6%   X          
  Ind Prod Feb up .1% X            
  Business Inventories Jan up .2%   X   PPI Feb up 1.0%     XX
  Retail Sales Feb ex auto -1.0% X     PPI Core Feb down .5% XX    
  Retail Sales Feb down 1.6% XX            
3/11/03 Wholesale Inventories Jan dn .2% X     Import Prices Feb up .4%     X
3/7/03 Cons Credit Jan surge up 13.2Bn     XX        
  Unemp Rate Feb up to 5.8% X            
  Payrolls Feb down 308K XX            
  Hrly Earnings Feb up .7%     X        
  Avg Workweek Feb unch   X          
3/6/03 Factory Orders Jan up 2.1%     X        
  Initial Jobless Claims up 430K X            
3/3/03 ISM Index Feb down to 50.5 X            
  Auto Sales Feb down 11.8% XX            
  Truck Sales Feb up 1.5%   X          
  Pers Income Jan Up .3%     X        
  Pers Spending Jan down .1% X            
  Const Spending Jan up 1.7%     X        
2/27/03 Durable Orders Jan up 3.3%     XX        
  New Home Sales Jan down 13% XX            
2/25/03 Cons Confidence Feb plunge to 64 X            
  Exist Home Sales up 3%     X        
2/21/03         CPI Jan Up .3%   X  
          CPI Core Up .1% X    
2/20/03 Phila Fed down to 2.3 XX     PPI Jan Up 1.6%     XX
  Leading Indicators Jan Down .1% X     PPI Core Up .9%     XX
2/19/03 Bldg Permits Jan down 6% X            
  Bldg Permits Jan at 1.78 MM units     X        
  Housing Starts Jan unch   X          
  Housing Starts Jan at 1.85 MM unit     XX        
2/14/03 Mich Sentiment Feb down to 79.2 X            
  Ind Prod Jan Up .7%     XX        
  Cap Util Jan up to 75.7%     X        
  Bus Inventories Dec up .6%     X        
2/13/03 Ret Sales Jan down .9% X     Import Prices Jan up .2%   X  
  Ret Sales Jan ex auto up 1.3%     X        
2/7/03 Cons Credit Dec down $4 billion X            
  Whsle Inventories Dec Up .8%     X        
  Avg workweek Jan unch   X          
  Hrly earnings Jan unch   X          
  Jobs added Jan up 143K     X        
  Unemp Rate Jan down to 5.7%     XX        
2/6/03 ISM Services Index at 54.5     X Productivity Q4 down .2%     X
2/4/03 Factory Orders Dec Up .4%     X        
  ISM Index Jan at 53.9 (down a bit)   X          
  Auto Sales Jan down 3% X            
  Truck Sales Jan down 20% XX            
1/31/03 Chicago PMI Jan up to 56     X        
  Pers Income Dec Up .4%     X        
  Pers Spending Dec Up .9%     X        
  GDP Q4 Advance Up .7% X     GDP Deflator Q4 up 1.8% X    
1/28/03 Exist Home Sales Dec              
  New Home Sales Dec up 3%     X        
  Cons. Confidence Jan down to 79 X            
  Durables Orders Dec up .2%   X          
1/23/03 Leading Indic Dec Up .1% X            
  Bldg Permits Dec up 8%     X        
  Housing Starts Dec up 6%     X        
1/17/03 Ind. Prod. Dec. Down .2% X            
  Capacity Util Dec flat at 75.4% X            
  Mich. Sentiment Jan pre. dn to 83.7 X            
1/16/03 Phila Fed Index at 11.2     X CPI Dec up .1% X    
          CPI Core Dec up .1% X    
1/15/03 Bus. Inventories Nov up .2%     X PPI Dec unch      
          PPI Core Dec down .3% X    
1/14/03 Retail sales Dec up 1.2%     XX        
  Retail sales ex autos unch X            
1/10/03 Unemp Rate unch @ 6%   X          
  Payrolls down 101K X            
  Hrly earnings Dec up .3%     X        
  Avg workweek unch at 34.1 hrs   X          
1/09/03 Wholesale Inventories Nov up .2%     X        
1/08/03 Consumer Credit Nov down 2.2Bn X            
1/7/03 Factory Orders Nov down .8% X            
1/3/03 Constr spending Nov up .3%     X        
  Auto sales Dec up 7%     XX        
  Truck sales Dec up 20%     XX        
12/27/02 New Home Sales Nov up 5%     X        
12/24/02 Durables Orders Nov dn 1.4% XX            
  Pers INcome Nov up .3%   X          
  Pers Spending Nov Up .5%     X        
12/19/02 Leading Indic Nov up .7%     XX Deflator Q3 Final Up 1.0% X    
  GDP Q3 Final Up 4.0%     X        
12/17/02 Ind. Prod Nov up .1% X            
  H. Starts Nov up 9%     XX        
  Bldg. Permits Nov down 4% X            
  Bus Inventories Oct up .2%     X        
12/12/02 Retail sales Nov up .4%     X        
  Retail ex autos up .5%     X        
12/10/02 Whlsle inventories Oct dn .3% X     Import prices Nov dn .1% X    
12/06/02 Cons. Credit Oct up small $1.4bn X            
  Avg. workweek Nov unch   X          
  Hrly earnings Nov up .3%   X          
  Payrolls Nov down 40K X            
  Unemp Rate Nov up to 6.0% X            
12/04/02 Factory Orders Oct up 1.5%     X        
  ISM Services Nov. up to 57.4     X        
12/02/02 Auto Sales Nov up 5.6%     X        
  Truck Sales Nov flat   X          
  Const Spending Oct up .3%     X        
  ISM Index Nov @ 49.2   X          
11/27/02 Durables Oct up 2.8%     X        
  Chicago PMI Nov up to 54.3     X        
  Pers Income Oct up .1% X            
  Pers Spending Oct up .4%     X        
11/26/02 GDP Prelim Q3 @ 4%     X GDP Deflator Q3 @ 1% XX    
  New Home Sale Oct down 4.5% X            
  Cons. Confidence Nov up to 84.1     X        
11/25/02 Exist Home Sales Oct up 6%     XX        
11/21/02 Leading Indic Oct flat X            
  Philly Fed Nov. @ 6.1   X          
  Fed. Deficit Oct up to $54.0 bn     X        
11/20/02 Bldg permits Oct up 1.7%     X        
  Housing Starts Oct down 11.4% XX            
11/19/02         CPI Oct Up .3%   X  
          CPI Core Oct up .2% X    
11/15/02 Cap Utilization Oct unch   X   PPI Oct up 1.1%     XX
  Ind. Prod. Oct down .8% XX     PPI Core Oct up .5%     XX
  Business Inventories Sep up .5%     X        
11/14/02 Retail Sales Oct unch X            
  Retail Sales ex auto up .7%     XX        
11/07/02 Whlsle Inventory sep up .5%     X        
  Cons Credit Sep @ 10 bn     X        
11/04/02 Factory Orders sep dn 2.3% X            
11/1/02 Auto Sales Oct dn 3.6% X