Economic Calendar: July 11-July 15

Time (EST) Indicator (click for definition) Source (click for press release) Actual Forecast Previous (revised) Previous (original) Monday, July 11 2:30 p.m. TIPS auction announcement Bureau of the Public Debt The Treasury announces the size of its next auction of 10-year Treasury Inflation-Protected Securities, or TIPS, next Thursday. Tuesday, July 12 9 a.m. ICSC-UBS Weekly Chain Store Sales Snapshot for the week ended July 9 International Council of Shopping Centers and UBS +0.1% n.a. +0.5% +0.5% 9 a.m. Johnson Redbook Retail Sales Index for the week ended July 9, vs. June Redbook Research +4.2% n.a. +0.2% +0.2%* Wednesday, July 13 8 a.m. Mortgage Applications Survey for the week ended July 8 -- Market Composite Index Mortgage Bankers Association 791.9 n.a. 853.4 853.4 Purchase Index 489.0 n.a. 520.8 520.8 8:30 a.m. Import Price Index for June Labor Department +1.0% n.a. -1.0% -1.3% Export Price Index unchgd. n.a. -0.2% -0.1% 8:30 a.m. International trade for May Commerce Department -$55.3B -$57.0B -$56.9B -$57.0B 11 a.m. Consumer Comfort Index for the week ended July 10 ABC News and Washington Post -11 n.a. -9 -9 1:30 p.m. Treasury refunding Bureau of the Public Debt The Treasury announces the results of its five-year note auction, at which $13 billion of securities will be sold, with bids due at 1 p.m. The auction is the first leg of the quarterly refunding, which continues on Thursday. 2 p.m. Federal budget for June FY '05 Treasury Department $22.4B $28.0B $19.1B $19.1B (June FY '04) Thursday, July 14 8:30 a.m. Initial Jobless Claims for the week ended July 9 Labor Department +336,000 +322,000 +320,000 +319,000 Four-week average unchgd. n.a. +321,000 +321,000 8:30 a.m. Retail sales for June Census Bureau +1.7% +0.9% -0.3% -0.5% Ex-autos +0.7% +0.5% -0.2% -0.2% 8:30 a.m. Consumer Price Index for June Labor Department unchgd. +0.3% -0.1% -0.1% Ex- food and energy +0.1% +0.2% +0.1% +0.1% 1:30 p.m. TIPS auction Bureau of the Public Debt The Treasury announces the results of its auction of TK-year Treasury Inflation-Protected Securities, or TIPS, at which $TK billion of securities will be sold, with bids due at 1 p.m. Friday, July 15 8:30 a.m. Business inventories for May Census Bureau +0.1% +0.4% +0.2% +0.3% 8:30 a.m. Producer Price Index for June Labor Department unchgd. +0.4% -0.6% -0.6% Ex- food and energy -0.1% +0.1% +0.1% +0.1% 9:15 a.m. Industrial production for June Federal Reserve +0.9% +0.4% +0.3% +0.4% Capacity utilization 80.0% 79.6% 79.4% 79.4% 9:45 a.m. Consumer Sentiment Index for July -- preliminary University of Michigan 96.5 94.5 96.0 96.0 10:30 a.m. Weekly Leading Index for the week ended July 8 Economic Cycle Research Institute +1.2% n.a. +1.4% +1.4%

P-Preliminary forecast
*Month through previous Saturday, vs. prior month
Expectations as reported by Reuters

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