US Data: Highlights of MNI Survey of Economic Forecasts

Repeats Story Initially Transmitted at 21:06 GMT Jul 11/17:06 EST Jul 11

     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.         

Weekly Jobless Claims for July 7 week                                   

 Thursday, July 12 at 8:30 a.m. ET                        Actual:       

               Median         Range                  Jul07  Jun30  Jun23

 Weekly Claims   226k      222k to 237k                 --   231k   228k

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

by 5,000 to 226,000 in the July 7 holiday week after rising by 3,000 to 

231,000 in the previous week, keeping the level in its tight range. The 

four-week moving average would still rise by 1,250 in the coming week as

the 221,000 level in the June 9 week drops out of the calculation,      

assuming the MNI forecast is correct and there are no revisions.        

Consumer Price Index for June (percent change)                          

 Thursday, July 12 at 8:30 a.m. ET                       Actual:        

              Median         Range                   Jun18  May18  Apr18

 CPI           +0.2%      +0.1% to +0.2%                --  +0.2%  +0.2%

 CPI Core      +0.2%      +0.2% to +0.2%                --  +0.2%  +0.1%

     Comments: The CPI is expected to rise 0.2% for a third straight    

month in June. The year/year rates should stabilize after moving higher 

in May. AAA reported another modest gain in mid-month prices from May,  

which could support a further increase in CPI gasoline prices, while    

food prices are seen adding modestly. The core CPI is forecast to also  

rise 0.2% following an as-expected 0.2% increase in May, with the       

relatively large housing categories holding steady.                     

Treasury Statement for June ($ billions)                                

 Thursday, July 12 at 2:00 p.m ET                        Actual:        

             Median           Range              Jun18    May18    May17

 Balance    -$107.0b   -$135.0b to -$79.0b          -- -$146.8b -$90.2b 

     Comments: The US Treasury is expected to post a larger budget      

deficit for June than the $90.2 billion gap in June 2017. July 1 fell on

a weekend in both years, so outlays were shifted into June. The impact  

of the tax cuts should continue to be seen in the data in the form of   

lower tax receipts and wider budget gaps.                               

University of Michigan Survey for July (preliminary)                    

 Friday, July 13 at 10:00 a.m. ET                        Actual:        

                Median        Range                 Jul18p Jun18f  May18

 Consumer Sent   98.3      98.0 to 99.5                 --   98.2   98.0

     Comments: The Michigan Sentiment index is expected to rise very    

slightly to 98.3 in early-July from 98.2 in June. A balance between     

favorable current conditions and trade concerns weighing on future      

expectations has kept the headline index roughly unchanged since April. 

--MNI Washington Bureau; +1 202-372-2121; email: shikha.dave@marketnews.com

[TOPICS: MTABLE]