Economic Data Forecasts For The Weeks Of Aug. 5 & 12

By Peter Morici
Monday, August 5, 2024 12:50 AM EDT
Here are my forecasts for upcoming economic data.    
       
  Forecast   Prior   
    Observation  
       
Week of August 5      
August 5      
PMI Services Index 56.0 56.0  
ISM Services - July 51.3 48.8  
       
August 6      
International Trade - June $72.9B 75.1  
       
August 7      
Consumer Credit - June $10.0B 11.3  
       
August 8      
Wholesale Inventories - June 0.2% 0.2  
       
Week of August 12      
August 12      
Treasury Budget - July -$350.0B -66.0  
       
August 13      
NFIB Small Business Optimisim Index - July 91.5 91.5  
       
Producer Price Index - July 0.2% 0.2  
PPI less food energy and trade services 0.2 0.0  
Energy      
       
August 14      
Consumer Price Index - July 0.2% -0.1  
CPI Core 0.2 0.1  
       
August 15      
Retail Sales - July 0.3% 0.0  
Retail Sales, ex Autos 0.2 -0.5  
Retail Sales, ex Autos and Gas 0.2 0.8  
       
Philadelphia Fed Survey 7.0 13.9  
New York Fed Manufacturing Index -6.0 -6.6  
       
Export Prices -  July 0.0% -0.5  
Import Prices -0.1 0.0  
Import Prices, ex-Petroleum -0.2 0.2  
       
Industrial Production - July  0.0% 0.6  
Manufacturing 0.0 0.4  
Capacity Utilization 78.6 78.8  
       
Business Inventories - June 0.3% 0.4  
NAHB Index 43 42  
       
August 16      
Housing Starts - July 1.380M 1.353  
Building Permits 1.450 1.446  
Michigan Consumer Sentiment (p) 66.4 66.4

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Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and widely published columnist. He is the five time winner of the MarketWatch best forecaster ...

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