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Economists Survey Raises 2021 CPI Forecast To 4.9%

     
     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 August 3 week                                 
 Thursday, August 8 at 8:30 a.m. ET                       Actual:       
               Median         Range                  Aug03  Jul27  Jul20
 Weekly Claims   215k     210k to 217k                  --   215k   207k
                                                                        
     Comments: The level of initial jobless claims is expected to hold  
steady at 215,000 in the August 3 week after an 8,000 gain in the       
previous week. The four-week moving average would rise by 1,750 this    
week as the 208,000 level in the July 6 week rolls out of the           
calculation.                                                            
                                                                        
Producer Price Index for July (percent change)                          
 Friday, August 9 at 8:30 a.m. ET                         Actual:       
                 Median         Range                Jul19  Jun19  May19
 Final Demand     +0.2%    +0.1% to +0.3%               --  +0.1%  +0.1%
 Ex Food,Energy   +0.2%    +0.1% to +0.2%               --  +0.3%  +0.2%
                                                                        
     Comments: Final demand PPI is expected to rise by 0.2% in July     
after a 0.1% gains in May and June. Energy prices are expected to tick  
up following a further June decline, while food prices are expected to  
post another modest gain. Excluding food and energy prices, PPI is      
forecast to rise 0.2% after a rising 0.3% in June.                      
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com
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