Economic Data Forecasts For The Weeks Of July 1 And 8

Here are my forecasts for upcoming economic data.

Forecast

Prior Observation

Consensus

Week of July 1

July 1

PMI Manufacturing Index - June

50.1

50.1

50.1

ISM (Mfg) - June

52.3

52.1

51.2

Construction Spending - May

0.2%

0.0

0.1

July 2

Auto Sales* - June

17.0

17.3

17.0

Car Sales

5.0

5.1

Truck Sales

12.0

12.2

July 3

Initial Unemployment Claims

220K

227

220

ADP Employment Report - July

130

27

150

International Trade - May

-$53.5B

-50.8

-53.2

PMI Services Index

50.7

50.7

50.7

ISM Services - June

56.1

56.9

55.9

Factory Orders - May

-0.7%

-0.8

-0.3

July 5

Nonfarm Payrolls - June

150K

75

165

Private

140

90

150

Manufacturing

2

3

1

Unemployment

3.6%

3.6

3.6

Average Workweek

34.4HR

34.4

34.5

Average Hourly Earnings

0.2%

0.2

0.3

Week of July 8

July 8

Consumer Credit - May

$16.0B

17.5

July 9

JOLTS - May

7.220M

7.449

July 10

Wholesale Inventories - May

0.4%

0.4

July 11

Consumer Price Index - June

0.0%

0.1

Core CPI

0.2

0.1

July 12

Producer Producer Index - June

0.1%

0.1

Core PPI (less food, energy and trade services

0.2

0.4