Economic Data Forecasts For The Weeks Of June 20 And 27

Here are my forecasts for upcoming economic data.
 
 
 
 
 
Forecast
Prior Observation
Consensus
Week of June 20
 
 
 
June 20
 
 
 
Chicago Fed National Activity Index - May
0.47
0.47
 
 
 
 
 
June 21
 
 
 
Existing Home Sales - May
5.410M
5.610
5.390
 
 
 
 
June 23
 
 
 
Initial Unemployment Claims
229K
229
225
Current Account - Q1
$284.0B
-217.9
-273.3
 
 
 
 
PMI Manufacturing Flash Index
57.0
57.0
56.4
PMI Services Flash Index
53.9
53.4
53.6
 
 
 
 
June 24
 
 
 
New Home Sales - May
625K
591
585
Michigan Consumer Sentiment Index - June (r)
50.2
50.2
50.2
 
 
 
 
Week of June 27
 
 
 
June 27
 
 
 
Durable Goods Orders - May
0.5%
0.5
 
Pending Home Sales Index - May
99.3
99.3
 
Dallas Fed General Business Activity
 
-7.3
 
 
 
 
 
June 28
 
 
 
International Trade in Goods - May
-$102.5B
-105.9
 
Wholesale Inventories - May (a)
2.1%
2.2
 
 
 
 
 
S&P Case/Shiller Index - April
 
 
 
Twenty City M/M
2.8%
3.1
 
Twenty City M/M - SA
1.6
2.4
 
Twenty City Y/Y
21.9
21.2
 
 
 
 
 
FHFA Home Price Index - April
1.4%
1.5
 
Consumer Confidence
103.0
106.4
 
Richmond Fed Manufacturing Index
5.0
-9
 
 
 
 
 
June 29
 
 
 
GDP - Q1 (f)
-1.3%
-1.5
 
 
 
 
 
June 30
 
 
 
Personal Income - May
0.5%
0.4
 
Personal Spending
0.6
0.9
 
Chicago PMI - June
59.0
60.3
 
 
 
 
 
July 1
 
 
 
ISM (Mfg) - June
55.8
56.1
 
Construction Spending - May
0.7%
0.2
 
 
 
 
 
Auto Sales - June
13.8M
12.7
 
Car Sales
2.8
2.7
 
Truck Sales
11.0
10.0
 
 

Peter Morici is an economist and emeritus business professor at the University of Maryland, and a national columnist.

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