Economic Calendar: May 12-May 16

Time (EST) Indicator (click for definition) Source (click for press release) Actual Forecast Previous (revised) Previous (original) Monday, May 12 2 p.m. Federal budget for April FY '08 Treasury Department $159.3B $160.0B $177.7B $177.7B (April FY '07) Tuesday, May 13 8:20 a.m. Bernanke speech Federal Reserve The Fed chairman speaks to Federal Reserve Bank of Atlanta Financial Markets Conference (via satellite) on the topic: Federal Reserve LiquidityMeasures 8:30 a.m. Import Price Index for April Labor Department +1.8% n.a. +2.9% +2.8% Export Price Index +0.3% n.a. +1.5% +1.5% 8:30 a.m. Retail sales for April Census Bureau -0.2% -0.2% +0.2% +0.2% Ex-autos +0.5% +0.2% +0.4% +0.1% 9 a.m. ICSC-UBS Weekly Chain Store Sales Snapshot for the week ended May 10 International Council of Shopping Centers and UBS -1.0% n.a. -0.2% -0.2%% 9 a.m. Johnson Redbook Retail Sales Index for the week ended May 10, vs. April Redbook Research +2.0% n.a. +2.1% +2.1%* 10 a.m. Business inventories for March Census Bureau +0.1% +0.4% +0.5% +0.6% Wednesday, May 14 8:30 a.m. Consumer Price Index for April Labor Department +0.2% +0.3% +0.3% +0.3% Ex- food and energy +0.1% +0.2% +0.2% +0.2% 9 a.m. Mortgage Applications Survey for the week ended May 9 -- Market Composite Index Mortgage Bankers Association 674.4 n.a. 655.4 655.4 Purchase Index 378.5 n.a. 381.3 381.3 9 a.m. Consumer Comfort Index for the week ended May 11 ABC News and Washington Post -47 n.a. -46 -46 Thursday, May 15 8:30 a.m. Initial Jobless Claims for the week ended May 10 Labor Department +371,000 +370,000 +365,000 +365,000 Four-week average +366,000 n.a. +367,000 +367,000 9:15 a.m. Industrial production for April Federal Reserve -0.7% -0.3% +0.2% +0.3% Capacity utilization 79.7% 80.2% 80.4% 80.3% 12 p.m. Philadelphia Fed Index for May Philadelphia Fed -15.6 -19.0 -24.9 -24.9 Friday, May 16 8:30 a.m. Housing starts for April Census Bureau 1.032M .940M .954M .947M Building permits .978M .912M .932M .927M 10 a.m. Consumer Sentiment Index for May -- preliminary University of Michigan 59.5 62.0 62.6 62.6 10:30 a.m. Weekly Leading Index for the week ended May 9 Economic Cycle Research Institute -7.2% n.a. -8.0% -8.0%

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

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