Economic Data Forecasts For The Weeks Of June 1 And 8

Here are my forecasts for upcoming economic data.

Forecast

Prior Observation

Consensus

Week of June 1

June 1

ISM (Mfg) - May

42.5

41.5

43

Construction Spending - April

-8.0%

0.9

-8.0

June 2

Auto Sales* - May

10.0M

8.6

June 3

ADP Employment Report

-8325K

-20236

-9000

ISM Services - May

45.0

41.8

-44.0

Factory Orders - April

-14.4%

-10.3

-12.5

Durable Goods Orders

-17.2

-14.7

Nondurable Goods Orders

-11.6

-5.8

June 4

Initial Jobless Claims

1800K

2123

1800

International Trade - April

-$48.4B

-44.4

-44.3

Productivity - Q1 (r)

-2.5%

-2.5

-2.5

Unit Labor Costs

4.8

4.8

4.8

June 5

Nonfarm Payrolls - May

-9325K

-20500

-8250

Private

-8325

-19520

-7500

Manufacturing

-400

-1330

-400.0

Unemployment

19.8%

14.7

19.7

Average Workweek

34.3HR

34.2

34.2

Average Hourly Earnings

-1.0%

4.7

1.0

Consumer Credit - April

-$60.0B

-12.1

-30.0

Week of June 8

June 9

NFIB Small Business Optimisim Index - May

90.9

90.9

Wholesale Inventories - April

0.4%

0.4

JOLTS - April

6.000M

6.191

June 10

Consumer Price Index - May

0.0%

-0.8

0.0

Core CPI

0.1

-0.4

-0.1

Treasury Budget - May

-$680.0B

-737.9

June 11

Producer Price Index - May

0.1%

-1.3

0.1

PPI Core

0.2

-0.9

June 12

Export Prices -  May

0.7%

-3.3

0.1

Import Prices

0.8

-2.6

0.2

Import Prices, ex-Peteroleum

-0.5

-0.5

Michigan Consumer Sentiment - June (p)

72.3

72.3