Fed Beige Book

Key economic data for the first week of December 2009 starting November 30th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
11/30/09 9:45 AM	Chicago PMI	Nov	53.0	54.2
12/01/09 2:00 PM	Auto Sales	Nov	NA	NA
12/01/09 2:00 PM	Truck Sales	Nov	NA	NA
12/01/09 10:00 AM	Construction Spending	Oct	-0.4%	0.8%
12/01/09 10:00 AM	ISM Index	Nov	54.8	55.7
12/01/09 10:00 AM	Pending Home Sales	Oct	-0.5%	6.1%
12/02/09 2:00 PM	Fed Beige Book	Nov
12/02/09 7:30 AM	Challenger Job Cuts	Nov	NA	-50.7%
12/02/09 8:15 AM	ADP Employment Report	Nov	-148K	-203K
12/02/09 10:30 AM	Crude Inventories	11/27	NA	1.02M
12/03/09 8:30 AM	Initial Claims	11/28	483K	466K
12/03/09 8:30 AM	Continuing Claims	11/21	5517K	5423K
12/03/09 8:30 AM	Productivity-Rev.	Q3	8.5%	9.5%
12/03/09 8:30 AM	Employment Cost Index	Q3	NA	0.4%
12/03/09 10:00 AM	ISM Services	Nov	51.5	50.6
12/04/09 8:30 AM	Nonfarm Payrolls	Nov	-114K	-190K
12/04/09 8:30 AM	Unemployment Rate	Nov	10.2%	10.2%
12/04/09 8:30 AM	Average Workweek	Nov	33.1	33.0
12/04/09 8:30 AM	Hourly Earnings	Nov	0.2%	0.3%
12/04/09 10:00 AM	Factory Orders	Oct	0.1%	0.9%

Economic Calendar - November IV

Key economic data for the last week of November 2009 starting November 23th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
11/23/09 10:00 AM	Existing Home Sales	Oct	5.70M	5.57M
11/24/09 8:30 AM	GDP - Preliminary	Q3	2.9%	3.5%
11/24/09 8:30 AM	GDP Deflator - Preliminary	Q3	0.8%	0.8%
11/24/09 9:00 AM	Case Shiller 20 City Index	Sep	-9.05%	-11.32%
11/24/09 9:00 AM	Consumer Confidence	Nov	47.5	47.7
11/24/09 10:00 AM	FHFA Home Price Index	Sep	0.1%	-0.3%
11/25/09 8:30 AM	Personal Income	Oct	0.2%	0.0%
11/25/09 8:30 AM	Personal Spending	Oct	0.5%	-0.5%
11/25/09 8:30 AM	PCE Prices	Oct	0.1%	-0.5%
11/25/09 8:30 AM	PCE Prices - Core	Oct	0.1%	0.1%
11/25/09 8:30 AM	Initial Claims	11/21	500K	505K
11/25/09 8:30 AM	Continuing Claims	11/14	5560K	5611K
11/25/09 8:30 AM	Durable Orders	Oct	0.5%	1.0%
11/25/09 8:30 AM	Durable Orders ex Transportation	Oct	0.7%	0.9%
11/25/09 9:55 AM	Mich Sentiment-Rev	Nov	67.0	66.0
11/25/09 10:00 AM	New Home Sales	Oct	405K	402K
11/25/09 10:30 AM	Crude Inventories	11/20	NA	-0.887K

Economic Calendar - November III

Key economic data for the Third week of November 2009 starting November 16th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
11/16/09 8:30 AM	Retail Sales	Oct	0.9%	-1.5%
11/16/09 8:30 AM	Retail Sales ex-auto	Oct	0.4%	0.5%
11/16/09 8:30 AM	Empire Manufacturing	Nov	30.00	34.57
11/16/09 10:00 AM	Business Inventories	Sep	-0.7%	-1.5%
11/17/09 8:30 AM	Core PPI	Oct	0.1%	-0.1%
11/17/09 8:30 AM	PPI	Oct	0.5%	-0.6%
11/17/09 9:00 AM	Net Long-term TIC Flows	Sep	$35.0B	$28.6B
11/17/09 9:15 AM	Capacity Utilization	Oct	70.8%	70.5%
11/17/09 9:15 AM	Industrial Production	Oct	0.4%	0.7%
11/18/09 8:30 AM	Housing Starts	Oct	600K	590K
11/18/09 8:30 AM	Building Permits	Oct	580K	573K
11/18/09 8:30 AM	CPI	Oct	0.2%	0.2%
11/18/09 8:30 AM	Core CPI	Oct	0.1%	0.2%
11/18/09 10:30 AM	Crude Inventories	11/13	NA	1.76M
11/19/09 8:30 AM	Initial Claims	11/14	504K	502K
11/19/09 8:30 AM	Continuing Claims	11/13	5600K	5631K
11/19/09 10:00 AM	Leading Indicators	Oct	0.4%	1.0%
11/19/09 10:00 AM	Philadelphia Fed	Nov	12.0	11.5

Economic Calendar - November II

Key economic data for the Second week of November 2009 starting November 9th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
11/12/09 2:00 PM	Treasury Budget	Oct	-$150.0B	-$155.5B
11/12/09 8:30 AM	Initial Claims	11/07	NA	NA
11/12/09 8:30 AM	Continuing Claims	10/31	NA	NA
11/12/09 11:00 AM	Crude Inventories	11/06	NA	-3.94M
11/13/09 8:30 AM	Export Prices ex-ag.	Oct	NA	NA
11/13/09 8:30 AM	Import Prices ex-oil	Oct	NA	NA
11/13/09 8:30 AM	Trade Balance	Sep	-$31.9B	-$30.7B
11/13/09 9:55 AM	Mich Sentiment-Prel	Nov	71.8	70.6

Economic Calendar - November I

Key economic data for the First week of November 2009 starting November 2nd, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
11/02/09 10:00 AM	Construction Spending	Sep	-0.2%	0.8%
11/02/09 10:00 AM	ISM Index	Oct	53.0	52.6
11/02/09 10:00 AM	Pending Home Sales	Sep	-0.1%	6.4%
11/03/09 2:00 PM	Auto Sales	Oct	NA	NA
11/03/09 2:00 PM	Truck Sales	Oct	NA	NA
11/03/09 10:00 AM	Factory Orders	Sep	0.9%	-0.8%
11/04/09 2:15 PM	FOMC Rate Decision	11/4	0.25%	0.25%
11/04/09 7:30 AM	Challenger Job Cuts	Oct	NA	-30.2%
11/04/09 8:15 AM	ADP Employment Report	Oct	-190K	-254K
11/04/09 10:00 AM	ISM Services	Oct	51.5	50.9
11/04/09 10:30 AM	Crude Inventories	10/30	NA	0.78M
11/05/09 8:30 AM	Productivity-Prel	Q3	6.5%	6.6%
11/05/09 8:30 AM	Initial Claims	10/31	520K	530K
11/05/09 8:30 AM	Continuing Claims	10/24	5750K	5797K
11/06/09 2:00 PM	Consumer Credit	Sep	-$10.3B	-$12.0B
11/06/09 8:30 AM	Nonfarm Payrolls	Oct	-175K	-263K
11/06/09 8:30 AM	Unemployment Rate	Oct	9.9%	9.8%
11/06/09 8:30 AM	Average Workweek	Oct	33.1	33.0
11/06/09 8:30 AM	Hourly Earnings	Oct	0.1%	0.1%
11/06/09 10:00 AM	Wholesale Inventories	Sep	-1.0%	-1.3%

Economic Calendar - October Last Week

Key economic data for the last week of October 2009 starting October 27th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
10/27/09 9:00 AM	CaseShiller Home Price Index	Aug	-11.90%	-13.30%
10/27/09 9:00 AM	Consumer Confidence	Oct	53.5	53.1
10/28/09 8:30 AM	Durable Orders	Sep	1.0%	-2.4%
10/28/09 8:30 AM	Durable Orders ex Transportation	Sep	0.7%	0.0%
10/28/09 10:00 AM	New Home Sales	Sep	440K	429K
10/28/09 10:30 AM	Crude Inventories	10/23	NA	1.31M
10/29/09 8:30 AM	Chain Deflator-Adv.	Q3	1.3%	0.0%
10/29/09 8:30 AM	GDP-Adv.	Q3	3.2%	-0.7%
10/29/09 8:30 AM	Initial Claims	10/24	525K	531K
10/29/09 8:30 AM	Continuing Claims	10/17	5915K	5923K
10/30/09 8:30 AM	Personal Income	Sep	0.0%	0.2%
10/30/09 8:30 AM	Personal Spending	Sep	-0.5%	1.3%
10/30/09 8:30 AM	PCE Prices	Sep	-0.5%	-0.5%
10/30/09 8:30 AM	Core PCE Prices	Sep	0.2%	0.1%
10/30/09 9:45 AM	Chicago PMI	Oct	48.7	46.1
10/30/09 9:55 AM	Mich Sentiment-Rev	Oct	70.0	69.4
10/30/09 10:00 AM	Employment Cost Index	Q3	0.4%	0.4%

Economic Calendar - October IV

Key economic data for the fourth week of October 2009 starting October 19th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
10/20/09 8:30 AM	Building Permits	Sep	590K	579K
10/20/09 8:30 AM	Housing Starts	Sep	610K	598K
10/20/09 8:30 AM	PPI	Sep	0.0%	1.7%
10/20/09 8:30 AM	Core PPI	Sep	0.1%	0.2%
10/21/09 2:00 PM	Fed's Beige Book
10/21/09 10:30 AM	Crude Inventories	10/16	NA	0.33M
10/22/09 8:30 AM	Initial Claims	10/17	517K	514K
10/22/09 8:30 AM	Continuing Claims	10/10	5990K	5992K
10/22/09 10:00 AM	Leading Indicators	Sep	0.9%	0.6%
10/22/09 10:00 AM	FHFA Housing Price Index	AUG	0.3%	0.3%
10/23/09 10:00 AM	Existing Home Sales	Sep	5.35M	5.10M

Economic Calendar - October III

Key economic data for the Third week of October 2009 starting August 17th, 2009. Next week is an options expiration week.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
10/14/09 2:00 PM	FOMC Minutes	Sep
10/14/09 8:30 AM	Export Prices ex-ag.	Sep	NA	0.8%
10/14/09 8:30 AM	Import Prices ex-oil	Sep	NA	0.4%
10/14/09 8:30 AM	Retail Sales	Sep	-2.1%	2.7%
10/14/09 8:30 AM	Retail Sales ex-auto	Sep	0.2%	1.1%
10/14/09 10:00 AM	Business Inventories	Aug	-0.9%	-1.0%
10/15/09 1:00 PM	Crude Inventories	10/09		-0.98M
10/15/09 8:30 AM	Initial Claims	10/10	525K	521K
10/15/09 8:30 AM	Continuing Claims	10/03	6060K	6040K
10/15/09 8:30 AM	Core CPI	Sep	0.1%	0.1%
10/15/09 8:30 AM	CPI	Sep	0.2%	0.4%
10/15/09 10:00 AM	Philadelphia Fed	Oct	12.3	14.1
10/16/09 9:00 AM	Net Long-Term TIC Flows	Aug	NA	15.3B
10/16/09 9:15 AM	Capacity Utilization	Sep	69.7%	69.6%
10/16/09 9:15 AM	Industrial Production	Sep	0.1%	0.8%
10/16/09 9:55 AM	Mich Sentiment-Prel	Oct	73.5	73.5

Economic Calendar - October II

Key economic data for the Second week of October 2009 starting October 5th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
10/05/09 10:00 AM	ISM Services	Sep	50.0	48.4
10/07/09 2:00 PM	Consumer Credit	Aug	-9.5B	-21.6B
10/07/09 2:00 PM	Treasury Budget	Sep	NA	NA
10/07/09 10:30 AM	Crude Inventories	10/02	NA	2.80M
10/08/09 8:30 AM	Initial Claims	10/03	NA	551K
10/08/09 8:30 AM	Continuing Claims	09/26	NA	6090K
10/08/09 10:00 AM	Wholesale Inventories	Aug	-1.0%	-1.4%
10/09/09 8:30 AM	Trade Balance	Aug	-32.9B	-32.0B

Economic Calendar - October I

Key economic data for the first week of October 2009 starting September 29th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
09/29/09 9:00 AM	Case-Shiller Housing Price Index	Jul	-14.20%	-15.44%
09/29/09 9:00 AM	Consumer Confidence	Sep	57.0	54.1
09/30/09 8:15 AM	ADP Employment	Sep	-200K	-298K
09/30/09 8:30 AM	GDP - Final	Q2	-1.2%	-1.0%
09/30/09 9:45 AM	Chicago PMI	Sep	52.0	50.0
09/30/09 10:30 AM	Crude Inventories	09/25	NA	2.85M
10/01/09 2:00 PM	Auto Sales	Sep	NA	NA
10/01/09 2:00 PM	Truck Sales	Sep	NA	NA
10/01/09 8:30 AM	Personal Income	Aug	0.1%	0.0%
10/01/09 8:30 AM	Personal Spending	Aug	1.1%	0.2%
10/01/09 8:30 AM	Initial Claims	09/26	535K	530K
10/01/09 8:30 AM	Continuing Claims	09/19	6178K	6138K
10/01/09 10:00 AM	Construction Spending	Aug	-0.2%	-0.2%
10/01/09 10:00 AM	ISM Index	Sep	54.0	52.9
10/01/09 10:00 AM	Pending Home Sales	Aug	1.0%	3.2%
10/02/09 8:30 AM	Average Workweek	Sep	33.1	33.1
10/02/09 8:30 AM	Hourly Earnings	Sep	0.2%	0.3%
10/02/09 8:30 AM	Nonfarm Payrolls	Sep	-180K	-216K
10/02/09 8:30 AM	Unemployment Rate	Sep	9.8%	9.7%
10/02/09 10:00 AM	Factory Orders	Aug	0.5%	1.3%