Nov 9

• UK Producer Prices (Oct)

Nov 10

• UK British Retail Consortium Sales Monitor (Oct)
• UK Acquisitions & Mergers (Q3)
• UK Regional Trends Survey (Q3)
• CBI/BSL 1100
• US Wholesale Trade (Sep)
• Cable and Wireless

Nov 11

• UK Labour Market Statistics:
• People in Employment (Jul-Sep)
• Unemployment : ILO Measure (Jul-Sep)
• Claimant Count (Oct)
• UK Average Earnings (Aug)
• UK Labour Force Survey (Jul-Sep)
• UK Inflation Report & Quarterly Bulletin (Q3)
• B of E 1030
• British Energy

Nov 12

• UK New Earnings Survey 1998: Analyses by Industry
• British Telecom

Nov 13

• UK Quarterly Financial Trends Survey (Q3)
• Trade Indemnity
• US Retail Sales (Oct)
• US Producer Prices (Oct)

  All Government and Bank of England figures are released at 0930.

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  German and Japanese figures expected this week:

• GER Retail Sales (Sep)
• JAP Wholesale Prices (Oct) 9 Nov
• JAP Current Account (Sep)

Producer Prices rose last month at an annual rate of 0.3% - the lowest year-on-year increase since March 1960, leading to suggestions from some quarters that factory gate inflation has been eradicated.

Lower demand is affecting retail sales growth - the British Retail Consortium Sales Monitor reported that sales value grew by only 1.2% in the year to September (despite low figures for September 1997, affected by the death of Princess Diana).

The Monitor noted that an analysis of credit cards receipts and VAT refunds showed a significant fall in spending by Far East visitors to London stores.

The labour market may be levelling out, the number of those claiming unemployment-related benefits (the Claimant Count) fell to 1,304,800 in September, but the numbers seeking work (the ILO measure) rose slightly to 1,816,000.

Most attention last month focused on revisions to the Average Earnings data. Rebasing of the Average Earnings Index caused upward revisions to the figures for June, but downward revisions for February and March, whose original high levels had contributed to the interest rate rise in June.

Average Earnings in July (the latest month available) were rising at a rate of 4.6%pa, down from 5.2%pa in June. The Bank's Quarterly Inflation Report appears on Wednesday, and will be closely scrutinised for its analysis of the economy.