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Salient data highlights for.........>

US DATA PREVIEW
US DATA PREVIEW: Salient data highlights for Friday (estimates): Retail sales
(0.8% prior, 0.1% estimate); industrial production (0.1% prior, 0.5% est);
capacity utilization (78.4% prior, 78.7% est). 
- Morgan Stanley economists said they "look for a 0.5% month-over-month gain in
core retail sales (which we define as retail sales and food services excluding
auto dealers, gas stations and home improvement stores)."
- RBC/NatWest said retail sales control looks "poised for a 0.7% sequential
advance in November. We look for strong trends in chain-store sales to translate
into a strong month for retail activity more broadly."
- Deutsche Bank est' 0.3% for retail sales, will "likely see a slight drag from
unit motor vehicle sales last month (17.4M vs. 17.5M previously). However, sales
excluding autos (+0.4% vs. +0.7%) should remain sturdy, consistent with the
still healthy gain in nominal income implied by the November employment report."
As to IP, DB est' +0.1%, the "modest uptick in manufacturing aggregate hours
evident in last Friday's jobs report should bode well, but a decline in mining
and logging hours and flat utility output balance out the risks."

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