US Data: Highlights of Market Survey of Economic Forecasts

Repeats Story Initially Transmitted at 21:06 GMT Jul 20/17:06 EST Jul 20

     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.

Existing Home Sales for May (millions)

 Wednesday, July 22 at 10:00am (ET)                      

     June existing home sales are expected to rise sharply to an 4.80 million

annualized pace from 3.91 million a month earlier after three months of

declines. 

Initial Jobless Claims (millions)

 Thursday, July 23 at 8:30am (ET)

     Initial jobless claims filed through July 18 should fall slightly to 1.29

million after dipping to 1.30 million in the week ending July 11. That would

mark the 17th straight week of initial filings topping 1 million. Initial claims

have remained stubbornly high in recent weeks and coronavirus case counts have

been surging in some parts of the country, forcing many states to either pause

or reverse their plans to reopen. Continuing claims are expected to dip to

16.900 million from 17.338 million. 

IHS-Markit PMIs (index)

 Friday, July 24 at 9:45am (ET)   

     U.S. manufacturing activity rebounded in July, with markets calling for the

IHS Markit flash U.S. Manufacturing PMI to increase to 52.0 from 49.8 in June.

That would mark the first expansionary reading since February. Service-sector

activity should similarly recover, with analysts forecasting a 2.7-point

increase in the July IHS Markit flash Services PMI to 51.0, also the first

indication of expansion since January.

New Home Sales (thousands)

 Friday, July 24 at 10:00am (ET)  

     June new home sales are expected to rebound to 700,000 from May's 676,000

annualized pace. 

--MNI Washington Bureau; +1 202-371-2121; email: jean.yung@marketnews.com

[TOPICS: MTABLE]