TOKYO (AFX-ASIA) - The following lists the range of forecasts given by surveyed economists for key economic indicators to be released this week (compared with previous period data or previous estimate):

JAPAN FEB TRADE BALANCE, Wednesday (08:50 am):
-- surplus 592 bln-1.05 trln yen (694 bln in Jan; consensus 773 bln)
Merrill Lynch wrote: "The results for February are hard to read. The first 20-day data showed a stable development from January, with similar growth rates of exports and imports to end-January. However, the inclusion of the last ten days complicates the February outcome, with one extra date from a leap-year in 2000. Because of this unfriendly comparison, exports are likely to record their first year-on-year drop since November 1999. The trend remains negative for both exports and the surplus, if the special factor is removed."
UBS Warburg wrote: "Customs-cleared trade recorded a deficit at 95.3 bln yen in January partly due to seasonal factors. It is anticipated that the figure is turning to positive in February, however, the surplus should indicate a substantial year-on-year decrease. Although domestic demand is weakening, deflationary expectation is likely to continue to support imports of cheaper goods from Asia, in particular in the area of consumption goods."

JAPAN JAN TERTIARY INDEX, Wednesday (08:50 am):
-- down 2.0-up 0.4 pct mth-on-mth (up 1.2; consensus down 0.7)

JAPAN JAN ALL INDUSTRY INDEX, Wednesday (08:50 am):
-- down 3.4-up 0.4 pct mth-on-mth (up 1.3 pct; consensus down 1.6) Nikko Salomon Smith Barney wrote: "Stagnant sales in wholesale, housing and travel probably reflected declines (in the tertiary index.)"
Merrill Lynch wrote: "Most available data suggest a sharp decline in tertiary industry activity on the month. Commercial sales fell 2.9 pct month-on-month, giving back much of the December rise of 3.5 pct. Service-related spending in household survey was also weak. After the resilient (fourth) quarter, service outputs now looks to be slowing into the first. Given the weak industrial production figure, the index of all industry activity also likely gave back more than its December rise."
UBS Warburg wrote: "We anticipate dips in real estate and services which showed substantial rises in December. (The) wholesale, retail and restaurants (sector) is likely to be flat, but 'transport and communication' and 'utilities' will likely (be) positive. On the overall basis, the index is likely to maintain its month-on-month gain, but to a smaller extent."