Economic Data Forecasts For The Weeks Of October 26 And November 2

Here are my forecasts for upcoming economic data.

   

 

 
 

Forecast

Prior Observation

Consensus

 

 

Week of October 26

     

 

 

October 26

     

 

 

Chicago Fed National Activity Index

0.60

0.79

 

 

 
       

 

 

New Home Sales - September

1015K

1011

1.025

 

 

Dallas Fed Manufacturing Index

13.5

13.6

 

 

 
       

 

 

October 27

     

 

 

Durable Goods Sales - September

-0.2%

0.5

0.3

 

 

Richmond Fed Manufacturing Index

15

21

 

 

 
       

 

 

S&P Case/Shiller Index - August

     

 

 

Twenty City M/M

0.3%

0.6

 

 

 

Twenty City M/M - SA

0.4

0.6

0.5

 

 

Twenty City Y/Y

4.2

3.9

4.2

 

 
       

 

 

FHFA House Price Index - August

0.7%

1.0

 

 

 

Consumer Confidence

101.5

101.8

102.5

 

 

Richmond Fed Manufacturing Index

18

21

 

 

 
       

 

 

October 28

     

 

 

International Trade in Goods - September (a)

-$85.4B

-82.9

-84.0

 

 

Wholesale Inventories - September (a)

0.4%

0.4

 

 

 
       

 

 

October 29

     

 

 

Initial Unemployment Claims

785K

787

780

 

 
       

 

 

GDP - Q3 (a)

30.0%

-31.4

31.9

 

 

GDP Implicit Price Deflator

     

 

 
       

 

 

Pending Home Sale Index - September

132.8

132.8

 

 

 
       

 

 

October 30

     

 

 

Personal Income - September

0.4%

-2.7

0.5

 

 

Personal Spending

1.0

1.0

1

 

 
       

 

 

Chicago PMI

58.3

62.4

59.3

 

 
       

 

 

Employment Cost Index - Q3

0.5%

0.5

 

 

 

Employment Cost Index - Y/Y

2.5

2.7

 

 

 
       

 

 

Michigan Consumer Sentiment Index - Oct (r)

81.2

81.2

81.2

 

 
       

 

 

Week of November 2

     

 

 

November 2

     

 

 

PMI Manufacturing Index - October

53.3

53.3

 

 

 

ISM (Mfg) - October

55.5

55.4

 

 

 
       

 

 

Construction Spending - September

1.0%

1.4

 

 

 
       

 

 

November 3

     

 

 

Factory Orders - September

0.3%

0.7

 

 

 

Durable Goods Orders

-0.2

0.5

 

 

 

Nondurable Goods Orders

0.7

0.8

 

 

 
       

 

 

Auto Sales* - September

16.40%

16.3

 

 

 

Car Sales

3.8

3.8

 

 

 

Truck Sales

12.6

12.6

 

 

 
       

 

 

November 4

     

 

 

ADP Employment Report - October

 

749

 

 

 

International Trade - September

-$70.3B

-67.1

 

 

 
       

 

 

PMI Services Index

56.0

56.0

 

 

 

ISM Services - October

57.8

57.8

 

 

 
       

 

 

Novenber 5

     

 

 

Productivity - Q3 (p)

3.3%

10.1

 

 

 

Unit Labor Costs

-9.8

9.0

 

 

 
       

 

 

November 6

     

 

 

Nonfarm Payrolls - October

800K

661

 

 

 

Private

875

887

 

 

 

Manufacturing

55

66

 

 

 

Unemployment

7.7%

7.9

 

 

 

Average Workweek

34.7HR

34.7

 

 

 

Average Hourly Earnings

0.2%

0.1

 

 

 
       

 

 

Consumer Credit - September

14.0M

7.2

 

 

 

Here are my forecasts for upcoming economic data.

   

 

 
 

Forecast

Prior Observation

Consensus

 

 

Week of October 26

     

 

 

October 26

     

 

 

Chicago Fed National Activity Index

0.60

0.79

 

 

 
       

 

 

New Home Sales - September

1015K

1011

1.025

 

 

Dallas Fed Manufacturing Index

13.5

13.6

 

 

 
       

 

 

October 27

     

 

 

Durable Goods Sales - September

-0.2%

0.5

0.3

 

 

Richmond Fed Manufacturing Index

15

21

 

 

 
       

 

 

S&P Case/Shiller Index - August

     

 

 

Twenty City M/M

0.3%

0.6

 

 

 

Twenty City M/M - SA

0.4

0.6

0.5

 

 

Twenty City Y/Y

4.2

3.9

4.2

 

 
       

 

 

FHFA House Price Index - August

0.7%

1.0

 

 

 

Consumer Confidence

101.5

101.8

102.5

 

 

Richmond Fed Manufacturing Index

18

21

 

 

 
       

 

 

October 28

     

 

 

International Trade in Goods - September (a)

-$85.4B

-82.9

-84.0

 

 

Wholesale Inventories - September (a)

0.4%

0.4

 

 

 
       

 

 

October 29

     

 

 

Initial Unemployment Claims

785K

787

780

 

 
       

 

 

GDP - Q3 (a)

30.0%

-31.4

31.9

 

 

GDP Implicit Price Deflator

     

 

 
       

 

 

Pending Home Sale Index - September

132.8

132.8

 

 

 
       

 

 

October 30

     

 

 

Personal Income - September

0.4%

-2.7

0.5

 

 

Personal Spending

1.0

1.0

1

 

 
       

 

 

Chicago PMI

58.3

62.4

59.3

 

 
       

 

 

Employment Cost Index - Q3

0.5%

0.5

 

 

 

Employment Cost Index - Y/Y

2.5

2.7

 

 

 
       

 

 

Michigan Consumer Sentiment Index - Oct (r)

81.2

81.2

81.2

 

 
       

 

 

Week of November 2

     

 

 

November 2

     

 

 

PMI Manufacturing Index - October

53.3

53.3

 

 

 

ISM (Mfg) - October

55.5

55.4

 

 

 
       

 

 

Construction Spending - September

1.0%

1.4

 

 

 
       

 

 

November 3

     

 

 

Factory Orders - September

0.3%

0.7

 

 

 

Durable Goods Orders

-0.2

0.5

 

 

 

Nondurable Goods Orders

0.7

0.8

 

 

 
       

 

 

Auto Sales* - September

16.40%

16.3

 

 

 

Car Sales

3.8

3.8

 

 

 

Truck Sales

12.6

12.6

 

 

 
       

 

 

November 4

     

 

 

ADP Employment Report - October

 

749

 

 

 

International Trade - September

-$70.3B

-67.1

 

 

 
       

 

 

PMI Services Index

56.0

56.0

 

 

 

ISM Services - October

57.8

57.8

 

 

 
       

 

 

Novenber 5

     

 

 

Productivity - Q3 (p)

3.3%

10.1

 

 

 

Unit Labor Costs

-9.8

9.0

 

 

 
       

 

 

November 6

     

 

 

Nonfarm Payrolls - October

800K

661

 

 

 

Private

875

887

 

 

 

Manufacturing

55

66

 

 

 

Unemployment

7.7%

7.9

 

 

 

Average Workweek

34.7HR

34.7

 

 

 

Average Hourly Earnings

0.2%

0.1

 

 

 
       

 

 

Consumer Credit - September

14.0M

7.2

 

 

 
       

 

 
 

 
     

 

 
 

 

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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