US Data: Highlights of MNI Survey of Economic Forecasts

Repeats Story Initially Transmitted at 21:06 GMT May 22/17:06 EST May 22

     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.             

New Home Sales for April (annual rate)                                  

 Wednesday, May 23 at 10:00 a.m. ET                      Actual:        

               Median         Range                  Apr18  Mar18  Feb18

 New Homes     680k        660k to 692k                 --   694k   667k

     Comments: New home sales are expected to slow to a 680,000 annual  

rate in April following a sharp gain in March and upward revisions to   

January and February. Unadjusted sales were up 11.5% from a year earlier

in March. Meanwhile, home supply was flat month/month, but up 13.2%     

year/year, so the supply is there if demand increases.                  

Weekly Jobless Claims for May 19 week                                   

 Thursday, May 24 at 8:30 a.m. ET                         Actual:       

                 Median       Range                  May19  May12  May05

 Weekly Claims   220k      217k to 224k                 --   222k   211k

     Comments: The level of initial jobless claims is expected to fall  

by 2,000 to 220,000 in the May 19 week after rising to 222,000 in the   

previous week. The four-week moving average would rise by 2,750 in the  

coming week as the recent-low 209,000 level in the April 21 week drops  

out of the calculation, assuming the MNI forecast is correct and there  

are no revisions, remaining very low by historical standards.           

Existing-home Sales for April (annual rate)                             

 Thursday, May 24 at 10:00 a.m. ET                       Actual:        

                 Median       Range                  Apr18  Mar18  Feb18

 Home Resales    5.58m    5.48m to 5.68m                --  5.60m  5.54m

     Comments: The pace of existing home sales is expected to fall to a 

5.58 annual rate in April after gains in the previous two months.       

Pending home sales rose by 0.4% in March after rising sharply in        

February, a small positive factor for existing home sales. Supply of    

homes for sale remains extremely low, keeping prices elevated.          

Durable Goods Orders for April (percent change)                         

 Friday, May 25 at 8:30 a.m. ET                          Actual:        

               Median         Range                  Apr18  Mar18  Feb18

 New Orders    -1.2%      -2.5% to +1.7%                --  +2.6%  +4.5%

 Ex-Transport  +0.6%      +0.3% to +1.2%                --  -0.1%  +1.3%

     Comments: Durable goods orders are expected to fall 1.2% in April  

after a 2.6% gain in March. Boeing reported 78 orders in April, down    

sharply from 197 orders reported in March, so aircraft orders are likely

to pull back after solid gains in the previous two months. Orders       

excluding transportation are expected to rise 0.6%. Annual revisions    

released on May 17 will be included with the data.                      

University of Michigan Survey for May (final)                           

 Friday, May 25 at 10:00 a.m. ET                         Actual:        

                Median        Range                 May18f May18p  Apr18

 Consumer Sent  98.8       98.5 to 99.0                 --   98.8   98.8

     Comments: The Michigan Sentiment index is expected to be unrevised 

from the preliminary May reading, unchanged from the level in April.    

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