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. 

ISM Non-manufacturing Index for March

 Wednesday, April 3 at 10:00 a.m. ET                     Actual:        

               Median         Range                  Mar19  Feb19  Jan19

 ISM NMI        58.0      57.0 to 59.7                  --   59.7   56.7

     Comments: The nonmanufacturing ISM reading is expected to fall to a 

reading of 58.0 in March after rising to 59.7 in February. The 

Philadelphia Fed nonmanufacturing index surged to 21.7, the Kansas City 

services reading declined to -2, and the Dallas Services index fell to 

-4.4 and the flash Markit Services index fell to 54.8. 

Weekly Jobless Claims for March 30 week                                

 Thursday, April 4 at 8:30 a.m. ET                       Actual:       

               Median         Range                  Mar30  Mar23  Mar16

 Weekly Claims  216k      210k to 220k                  --   211k   216k

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

by 4,000 to 215,000 in the March 30 week after a decrease of 5,000 in the 

previous week. The four-week moving average would fall by 750 this week 

as the 218,000 level in the March 2 rolls out of the calculation. 

Nonfarm Payrolls for March (change in thousands)                     

 Friday, April 5 at 8:30 a.m. ET                         Actual:        

               Median         Range                  Mar19  Feb19  Jan19

 Payrolls      +170k     +145k to +243k                 --   +20k  +311k

 Private Jobs  +165k     +140k to +246k                 --   +25k  +308k

 Jobless Rate   3.8%      3.7% to  3.9%                 --   3.8%   4.0%

 Hrly Earnings +0.3%     +0.2% to +0.3%                 --  +0.4%  +0.1%

 Avg Wkly Hrs   34.5      34.4 to 34.5                  --   34.4   34.5

     Comments: Nonfarm payrolls are forecast to rise by 170,000 in March 

after a much weaker-than-expected 20,000 rise in February. The 

unemployment rate is expected to stay at 3.8%. Hourly earnings are 

forecast to rise by 0.3%, while the average workweek is expected to 

rebound slightly to 34.5 hours after falling to 34.4 hours in February. 

Consumer Credit for February (dollar change, billions)                   

 Friday, April 5 at 3:00 p.m. ET                         Actual:        

              Median        Range                  Feb19   Jan19   Dec18

 Cons Cred     17.0     13.0 to 18.0                  -- +$17.0b +$15.4b

     Comments: Consumer credit is expected to grow by $17.0 billion at 

an annual rate in February, continuing a string of solid gains.

--MNI Washington Bureau; +1 (973) 494-2611; email: harrison.clarke@marketnews.com

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