Preliminary Economic Data Forecast For The Next Two Weeks

Here are my forecasts for upcoming economic data.      
  Forecast Prior Observation  
Week of May 17      
May 17      
NY Fed Manufacturing Index 23.0 26.3  
NAHB Index - May 84 83  
       
May 18      
Housing Starts - April 1.720M 1.739  
Building Permits 1.780 1.766  
       
May 20      
Philadelphia Fed Survey 45 50.2  
Leading Indicators  1.3% 1.3  
       
May 21      
PMI Manufacturing Flash Index - May 60.5 60.5  
PMI Services Flash  64.7 64.7  
       
Existing Home Sales - April 5.900M 6.010  
       
Week of May 24      
May 24      
Chicago Fed National Activity Index - April 1.00 1.71  
       
May 25      
S&P Case/Shiller Index - March      
Twenty City M/M 0.6% 1.2  
Twenty City M/M - SA 1.4 1.2  
Twenty City Y/Y 11.3% 11.9  
       
FHFA Housing Price Index - March 1.0% 0.9  
Consumer Confidence 120.0 121.7  
New Home Sales - April 950K 1021K  
Richmond Fed Index 19 17  
       
May 27      
Durable Goods Sales - April 1.0% 0.8  
GDP - Q1 (p) 6.4% 6.4  
Pending Home Sale Index - April 113.4 111.3  
       
May 28      
International Trade in Goods - April -$93.5 -90.6  
Wholesale Inventories (a) - April 1.2% 1.3  
       
Personal Income - April -14.0% 21.1  
Personal Spending 1.0 4.2  
       
Chicago PMI - May 70.0 72.1  
       

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

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