US Data: Highlights of MNI Survey of Economic Forecasts

     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.         

Nonfarm Payrolls for July (change in thousands)                         

 Friday, August 3 at 8:30 a.m. ET                        Actual:        

               Median         Range                 Jul18  Jun18  May18 

 Payrolls       +190k    +182k to +207k                --  +213k  +244k 

 Private Job    +200k    +185k to +208k                --  +202k  +239k 

 Jobless Rate    3.9%     3.8% to 4.0%                 --   4.0%   3.8% 

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

 Avg Wkly Hrs    34.5     34.5 to 34.5                 --   34.5   34.5 

     Comments: Nonfarm payrolls are forecast to rise by 190,000 in July 

after a stronger-than-expected 213,000 rise in June. The unemployment   

rate is expected to slip back to 3.9% after rebounding to 4.0% in June. 

Hourly earnings are forecast to post another 0.2% gain, but the         

year/year rate could decline on base effects, while the average workweek

is expected to stay at 34.5 hours for the sixth straight month.         

Trade in Goods and Services for June (deficit, billion $)               

 Friday, August 3 at 8:30 a.m. ET                        Actual:        

               Median         Range                Jun18   May18   Apr18

 Trade Gap    -$46.1b  -$47.0b to -45.4b              -- -$43.1b -$46.2b

     Comments: The international trade gap is expected to widen to $46.1

billion in June from $43.1 billion in May. The impact of the tariffs may

be seen in force in the data starting this month. The advance estimate  

of the Census goods trade gap widened to $68.3 billion, as export fell  

and imports rose.                                                       

ISM Non-manufacturing Index for July                                    

 Friday, August 3 at 10:00 a.m. ET                       Actual:        

               Median         Range                  Jul18  Jun18  May18

 ISM NMI         58.7     57.9 to 59.5                  --   59.1   58.6

     Comments: The ISM nonmanufacturing index is expected to fell to a  

reading of 58.7 in July from 59.1 in June. The Philadelphia             

nonmanufacturing index rose to 44.3, while the flash Markit Services    

index fell slightly to 56.2.                                            

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

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