MNI European Morning Briefing

     LONDON (MNI) - Wednesday throws up another full day of data releases, with

euro area consumer inflation data likely to be the morning standout.

     The German calendar gets underway at 0700GMT, with the publication of the

GFK Consumer Climate and the ILO employment numbers.

     At 0745GMT, French Q4 GDP will be released, along with consumer spending

PPI and preliminary CPI data.

     At 0800GMT, the Swiss KOF Economic Barometer will cross the wires.

     Further German unemployment data will be published at 0855GMT, to be

followed by Italian preliminary inflation at 1000GMT.

     The main event from the European morning session, when the preliminary

February HICP data is due.

     The US calendar kicks off at 1200GMT, when the MBA weekly applications

index is released.

     At 1330GMT, the second estimate of US Q4 GDP will be published.

     Fourth quarter GDP is expected to be revised down to a 2.5% rate of growth,

as stronger fixed investment is offset by downward revisions to other

components. The chain price index is expected to be unrevised at a 2.4% rate.

     Canadian Industrial Product and Raw Material Price Index will be released

at the same time.

     Bundesbank Board member Andreas Dombret participates in discussion at

International Bankers Forum IBF "Bank of the Future", in Frankfurt, also at

1330GMT.

     At 1400GMT, the Milwaukee Manufacturing ISM index will be published,

followed by the MNI Chicago PMI at 1445GMT.

     The MNI Chicago PMI is expected to decline further to a reading of 64.0 in

February after dipping to a still-strong reading of 65.9 in January. Other

regional data already released were mixed.

     At 1500GMT, the NAR pending home sales data will be released, with the DOE

weekly crude oil stocks expected at 1530GMT.

     Bundesbank board member Carl-Ludwig Thiele speaks at the Bundesbank Forum,

in Frankfurt, starting at 1700GMT.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com