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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.        
Domestic Motor Vehicle Sales for August (mln units, saar)               
 Friday, September 1                                    Actual:         
               Median         Range                  Aug17  Jul17  Jun17
 Dom Sales      12.8m     12.6m to 12.9m                --  12.9m  12.8m
     Comments: Domestic-made vehicle sales are expected to decline 
moderately to 12.8 million SAAR in August after rising in July to 12.9 
million. Seasonal adjustment factors will be a larger subtraction from 
unadjusted sales in August than they were in July.                      
Nonfarm Payrolls for August (change in thousands)                       
 Friday, September 1 at 8:30 a.m. ET                     Actual:        
               Median         Range                  Aug17  Jul17  Jun17
 Payrolls       +180k     +160k to +200k                --  +209k  +231k
 Private Job    +184k     +150k to +205k                --  +205k  +194k
 Jobless Rate    4.3%      4.2% to 4.4%                 --   4.3%   4.4%
 Hrly Earnings  +0.2%     +0.1% to +0.3%                --  +0.3%  +0.2%
 Avg Wkly Hrs    34.5      34.4 to 34.5                 --   34.5   34.5
     Comments: Nonfarm payrolls are forecast to rise by 180,000 in      
August after stronger-than-expected readings in the previous two months.
It remains to be seen if the impact from Amazon's attempt to hire 50,000
new workers will filter through to the payrolls figures this month, but 
it casts some upside risk on the data. The unemployment rate is expected
to hold steady at 4.3%. Hourly earnings are forecast to rise 0.2% after 
a 0.3% gain in the previous month. The average workweek is expected to  
stay at 34.5 for another month.                                         
Construction Spending for July (percent change)                         
 Friday, September 1 at 10:00 a.m. ET                    Actual:        
                Median         Range                 Jul17  Jun17  May17
 Construction    +0.5%     -1.5% to +1.0%               --  -1.3%  +0.3%
     Comments: Construction spending is expected to rise 0.5% in July.  
Housing starts fell 4.8% in the month, suggesting private residential   
building could continue its string of declines.                         
ISM Manufacturing Index for August                                      
 Friday, September 1 at 10:00 a.m. ET                    Actual:        
              Median       Range                     Aug17  Jul17  Jun17
 Mfg ISM        56.6     56.0 to 57.5                   --   56.3   57.8
     Comments: The ISM manufacturing index is expected to rebound       
modesty to a reading of 56.6 in August after a dip back to 56.3 in July.
Regional conditions data have suggested fairly strong growth.           
University of Michigan Survey for August (final)                        
 Friday, September 1 at 10:00 a.m. ET                    Actual:        
                Median        Range                 Aug17f Aug17p  Jul17
 Consumer Sent   97.5     97.0 to 98.0                  --   97.6   93.4
     Comments: The Michigan Sentiment index is expected to be revised   
down slightly to a reading of 97.5 in August from the 97.6 preliminary  
estimate, still above the 93.4 reading in July.                         
--MNI Washington Bureau; +1 202-371-2121; email: holly.stokes@marketnews.com
[TOPICS: M$U$$$]

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