US Data: Highlights of MNI Survey of Economic Forecasts

Repeats Story Initially Transmitted at 21:06 GMT Aug 31/17:06 EST Aug 31

     WASHINGTON (MNI) - The following are highlights of forecasts for   

upcoming U.S. economic indicators provided by participants in the MNI   

weekly survey. The comment section presents the key elements behind the 

median forecasts.        

Domestic Motor Vehicle Sales for August (mln units, saar)               

 Friday, September 1                                    Actual:         

               Median         Range                  Aug17  Jul17  Jun17

 Dom Sales      12.8m     12.6m to 12.9m                --  12.9m  12.8m

     Comments: Domestic-made vehicle sales are expected to decline 

moderately to 12.8 million SAAR in August after rising in July to 12.9 

million. Seasonal adjustment factors will be a larger subtraction from 

unadjusted sales in August than they were in July.                      

Nonfarm Payrolls for August (change in thousands)                       

 Friday, September 1 at 8:30 a.m. ET                     Actual:        

               Median         Range                  Aug17  Jul17  Jun17

 Payrolls       +180k     +160k to +200k                --  +209k  +231k

 Private Job    +184k     +150k to +205k                --  +205k  +194k

 Jobless Rate    4.3%      4.2% to 4.4%                 --   4.3%   4.4%

 Hrly Earnings  +0.2%     +0.1% to +0.3%                --  +0.3%  +0.2%

 Avg Wkly Hrs    34.5      34.4 to 34.5                 --   34.5   34.5

     Comments: Nonfarm payrolls are forecast to rise by 180,000 in      

August after stronger-than-expected readings in the previous two months.

It remains to be seen if the impact from Amazon's attempt to hire 50,000

new workers will filter through to the payrolls figures this month, but 

it casts some upside risk on the data. The unemployment rate is expected

to hold steady at 4.3%. Hourly earnings are forecast to rise 0.2% after 

a 0.3% gain in the previous month. The average workweek is expected to  

stay at 34.5 for another month.                                         

Construction Spending for July (percent change)                         

 Friday, September 1 at 10:00 a.m. ET                    Actual:        

                Median         Range                 Jul17  Jun17  May17

 Construction    +0.5%     -1.5% to +1.0%               --  -1.3%  +0.3%

     Comments: Construction spending is expected to rise 0.5% in July.  

Housing starts fell 4.8% in the month, suggesting private residential   

building could continue its string of declines.                         

ISM Manufacturing Index for August                                      

 Friday, September 1 at 10:00 a.m. ET                    Actual:        

              Median       Range                     Aug17  Jul17  Jun17

 Mfg ISM        56.6     56.0 to 57.5                   --   56.3   57.8

     Comments: The ISM manufacturing index is expected to rebound       

modesty to a reading of 56.6 in August after a dip back to 56.3 in July.

Regional conditions data have suggested fairly strong growth.           

University of Michigan Survey for August (final)                        

 Friday, September 1 at 10:00 a.m. ET                    Actual:        

                Median        Range                 Aug17f Aug17p  Jul17

 Consumer Sent   97.5     97.0 to 98.0                  --   97.6   93.4

     Comments: The Michigan Sentiment index is expected to be revised   

down slightly to a reading of 97.5 in August from the 97.6 preliminary  

estimate, still above the 93.4 reading in July.                         

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