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WASHINGTON (MNI) - The following are highlights of forecasts for upcoming
U.S. economic indicators provided by Bloomberg. The comment section presents the
key elements behind the median forecasts.
Advanced Goods Trade Gap (billions)
Friday, May 29 at 8:30am (ET)
Median Apr20 Mar20 Feb20
Gap -$65.0b -- -64.4b -$59.7b
Comments: The advanced goods trade gap (census basis) is expected to widen
to -$65.0 billion, in what would be the second straight month of increases.
Personal Income (percent change)
Friday, May 29 at 08:30am ET
Median Apr20 Mar20 Feb20
Personal income -6.0% -- -2.0% +0.6%
Total Price index -0.6% -- -0.3% +0.1%
Core PCE price index -0.3% -- -0.1% +0.2%
Comments: Personal income in April is expected to drop by -6.0% in what
would be the largest m/m contraction ever recorded since the report's inception
in 1959. April's downturn should mark the second contraction since November 2015
showing an acceleration in declining personal income after March's -2.0%
decrease. The total price index is also expected to drop by -0.6% with the core
PCE price index registering a -0.3% decline.
MNI Chicago PMI (index)
Friday, May 29 at 9:45am (ET)
Median May20 Apr20 Mar20
Index 40.0 -- 35.4 47.8
Comments: The MNI Chicago PMI for May is expected to climb to 40.0, up from
April's 35.4 reading, which was the lowest reading since March 2009 when the
index registered 33.0.
University of Michigan Survey of Consumers for April (final)
Friday, May 29 at 10:00am (ET)
Median May20(f) Apr20 Mar20
Consumer Sent 74.0 -- 71.8 89.1
Comments: U.S. consumer sentiment likely increased in May, with markets
expecting the University of Michigan's measure to rise to 74 from 71.8 in April,
slightly higher than May's preliminary estimate of 73.7. This would mark a 2.2
point increase from April's 71.8 reading, which was the lowest reading since
December 2011 when the index reached 69.9. Consumer sentiment has slipped in
recent months as the Covid-19 pandemic forced businesses across the globe to
temporarily, and in some cases permanently, close their doors. But sentiment
improved early this month as coronavirus relief measures enforced under the
CARES Act improved households' finances, University of Michigan researchers
wrote in May's preliminary report.
--MNI Washington Bureau; +1 202 371 2121; email: firstname.lastname@example.org