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US Data: Highlights of Market Survey of Economic Forecasts

Repeats Story Initially Transmitted at 21:06 GMT Jul 10/17:06 EST Jul 10
     WASHINGTON (MNI)  - The following are highlights of forecasts for upcoming
U.S. economic indicators provided by Bloomberg. 
NFIB Small Business Optimism Index (index)
 Tuesday, July 14 at 6:00am (ET)                       
     The NFIB Small Business Optimism Index is expected to rise to 97.5 in June
from 94.4 a month earlier. 
Consumer Price Index (percent change)
 Tuesday, July 14 at 8:30am (ET)                        
                   Median                            Jun20  May20  Apr20    
CPI                  0.6%                               --  -0.1%  -0.8%  
CPI Core             0.1%                               --  -0.1%  -0.4% 
     U.S. consumer inflation likely rebounded in June, increasing for the first
time since February. Analysts expect headline CPI to rise 0.6% after falling
-0.1% in May. Energy prices are expected to show a hefty increase while food
prices likely rose slightly, lifting the headline measure. Core CPI is expected
to rise by 0.1% after falling -0.1% in May as hotels and airlines saw higher
Empire Manufacturing Survey (index)
 Wednesday, July 15 at 8:30am (ET)
     The NY Fed's Empire Manufacturing index likely rose to 5.5 in July,
reversing June's -0.2 reading. 
Import/Export Prices (percent change)
 Wednesday, July 15 at 8:30am (ET)                         
     The import price index is expected to increase by 1.0% with the export
price index also climbing by 0.8%, marking the second straight month of
increases for both. Import prices rose 1.0% in May, the most since early 2019
and driven by higher fuel prices, while export prices rose 0.5% as industrial
goods prices climbed. On a year-over-year basis, U.S. export prices in May were
still 6.0% lower than in 2019.  
Industrial Production & Capacity Utilization (percent change)
 Wednesday, July 15 at 9:15am (ET)                         
     Industrial production for June is expected to increase by 4.8%, adding to
May's 1.4% gain, driven by durable goods production. Manufacturing hours worked
rose in the June employment report. Capacity utilization is also expected to
rebound to 68.0% after registering 64.8% in May.
Retail Sales (percent change)
 Thursday, July 16 at 8:30am (ET)                     
                  Median                        Jun20   May20  Apr20     
Retail Sales       +5.5%                           --   17.7% -14.7%   
Retail ex mv       +5.4%                           --   12.4% -15.2%    
Retail ex mv+gas   +3.9%                           --   12.4% -14.4%     
     U.S. retail sales are set to rise by 5.5% in June following May's 17.7%
increase that was the largest monthly percent increase on record. Headline sales
should benefit from an increase in gas station sales driven by rising gas prices
as Americans hit the road as Covid-19 lockdowns eased. Still, Thursday's report
offers only a backwards look at consumption as some of the nation's largest
states, including Florida and California, closed down for a second time in late
June. Several more states in July either paused or reversed their reopening
plans. Excluding motor vehicles, retail sales should increase 5.4% in June after
a 12.4% gain in May.
Initial Jobless Claims (millions)
 Thursday, July 16 at 8:30am (ET)          
     U.S. weekly jobless claims filed through July 11 should dip again to 1.250
million Thursday after reaching 1.314 million through July 4. Several states
have shutdown hot spots for a second time while many others continue to reopen
at a slow pace. 
NAHB Home Builder Index (index)
 Thursday, July 16 at 10:00am (ET)
     The National Home Builder Index is slated to climb to 60 in July from 58 in
Housing Starts & Building Permits (millions)                   
 Friday, July 17 at 8:30am (ET)                          
     June housing starts are expected to climb to 1.100 million after reaching
0.891 million in April, their lowest level since since February 2015 (0.888
million). Permits for single family homes saw a large gain last month. Building
permits are also expected to increase, climbing to 1.260 million after reaching
1.066 million in May.
University of Michigan Survey of Consumers (index)
 Friday, July 17 at 10:00am (ET)
     U.S. consumer sentiment likely rose to 80.0 in the July preliminary
estimate, from 78.1 in June. 
--MNI Washington Bureau; +1 202-371-2121; email:
MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

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