LATAM WEEKAHEAD-Holiday week has inflation, production, job data

NEW YORK Dec 27 (Reuters) - The holiday season leaves a dearth of economic data from Latin America, but reports are expected to show a drop in Brazilian inflation and improvement in both Chile's industrial production and Colombia's unemployment rates.

Tuesday, Dec. 29

* Brazil - December IGP-M inflation. Economists expect a decline as wholesale prices drop. Citigroup forecasts a drop of 0.25 percent; Morgan Stanley sees a 0.15 percent decline while Barclays Capital is expecting no change.

Wednesday Dec. 30

* Brazil - November public sector primary surplus. "We expect public enterprises to deliver a strong primary surplus in order to achieve their budget target for 2009. The net debt compatible with a 1.6 billion reais primary surplus is 44.5 percent of GDP," Barclays said. Morgan Stanley forecasts a primary surplus of $4.0 bln reais while Citigroup has a forecast of $12.3 billion reais.

"Over the last 12 months, our forecast would imply the first increase in the primary surplus/GDP ratio since October 2008, reaching 1.4 percent from 1 percent in the previous month. This improving figure reflects the recent improvement in tax revenues given the positive effect stemming from strong activity recovery," Citigroup wrote clients.

* Chile - November industrial production. Forecasts call for a slowdown in the decline of industrial production last month. In October the drop was 6.6 percent. Morgan Stanley, with a forecast for a decline of 1.5 percent said: "Improvement from an easier base and better external demand." Barclays forecasts a 0.4 percent drop.

* Chile - November unemployment. Unemployment is expected to show improvement due to seasonal factors, Morgan Stanley said, forecasting a rate of 9.2 percent versus 9.7 percent in the prior period. Barclays sees a rate of 9.3 percent.

* Colombia - November unemployment. An improvement in unemployment is expected, with forecasts of 11.9 percent from Citigroup and Morgan Stanley, while Barclays sees a 12.0 percent rate versus 12.4 percent in the prior month. (Reporting by Daniel Bases; Editing by Dan Grebler)