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US Data: Highlights of Market Survey of Economic Forecasts

Repeats Story Initially Transmitted at 19:44 GMT Jun 26/15:44 EST Jun 26
     WASHINGTON (MNI)  - The following are highlights of forecasts for upcoming
U.S. economic indicators provided by Bloomberg. 
MNI Chicago PMI 
 Tuesday, June 30 at 9:45am (ET)
     The MNI Chicago PMI for June is expected to rebound to 42.0 from May's 32.3
reading, which was the lowest level since March 1982, as business confidence
cooled further amid the Covid-19 crisis.
Conference Board Consumer Confidence
 Tuesday, June 30 at 10:00am (ET)
U.S. consumer sentiment likely added to gains in May to reach 90.0 this month
from 86.6. After declining sharply to 85.7 in April, the index showed signs of
stabilizing last month as consumers' short-term outlook for income, business and
labor market conditions improved. 
ISM Manufacturing Index (index)
 Wednesday, July 1 at 10:00am (ET)
     The ISM manufacturing index is expected to climb to 49.0 in June from 45.4
in May as factories continued to reopen. The Markit flash PMI rebounded nearly
10 points to 49.6 and regional surveys have indicated improving factory activity
as well. 
Construction Spending (percentage change)
 Wednesday, July 1 at 10:00am (ET)
     Construction spending for May is expected to rise +1.0% after falling -2.9%
in April.
Initial Jobless Claims (millions)
 Thursday, July 2 at 8:30am (ET)                     
     Claims filed through June 27 should fall to 1.35 million after reaching
1.48 million in the week ending June 20. The pace of initial claims has slowed
in recent weeks, but by less than expected, and new clusters of Covid-19
infections have appeared as states continue to reopen, which could lengthen a
labor market recovery.
Trade in Goods and Services (deficit, billions) 
 Thursday, July 2 at 8:30am (ET)                            
     The trade deficit is expected to increase to -USD52.0 billion in May from
-USD49.4 billion in April. The advance report showed the goods gap widening to
USD74.3 billion as imports declined by less than expected. Imports of industrial
supplies and consumer goods rose in May, an indication of the recovery. 
Nonfarm Payrolls for March (change in thousands and millions) 
 Thursday, July 2 at 8:30am (ET)                                
                                                            Actual 
                 Median                             Jun20    May20    Apr20     
Payrolls         3.000m                                --   2.509m -20.687m
Private Jobs     2.660m                                --   3.094m -19.724m
Jobless Rate      12.5%                                --    13.3%    14.7% 
Avg Hrly Earnings -0.5%                                --    -1.0%    +4.7%    
Avg Wkly Hrs       34.5                                --     34.7     34.2    
     The U.S. labor market should continue to show signs of improvement through
June, with markets expecting nonfarm payrolls to increase by 3.0 million,
slightly stronger than May's 2.5 million gain as employers continue to reverse
the record-setting -20.5 million decline in April.
     Claims data have suggested that layoffs are slowing. The Census Bureau's
weekly Small Business Pulse Survey showed 10.2% of businesses increased workers
through the June survey week compared to 7.9% in May, though 11.2% of businesses
shrank their workforce.
Factory Orders (percent change) 
 Thursday, July 2 at 10:00am (ET)   
     New factory orders are expected to rise +8.0% in May, reversing some of
April's -13.0% drop.
--MNI Washington Bureau; +1 202-371-2121; email: jean.yung@marketnews.com
[TOPICS: MTABLE]
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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