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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
Consumer Credit for September (dollar change, billions)
Wednesday, November 7 at 3:00 p.m. ET Actual:
Median Range Sep18 Aug18 Jul18
Cons Cred +$17.0b +$14.9b to +$18.0b -- +$20.1b +$16.6b
Comments: Consumer credit is expected to rise by $17.0 billion in
September after a solid $20.1 billion gain in August. Retail sales were
up 0.1% in September overall and down 0.1% excluding a 0.8% rise in
motor vehicle sales, suggesting consumer credit growth slowed.
Weekly Jobless Claims for November 3 week
Thursday, November 8 at 8:30 a.m. ET Actual:
Median Range Nov03 Oct27 Oct20
Weekly Claims 213k 205k to 214k -- 214k 216k
Comments: The level of initial jobless claims is expected to fall
by 1,000 to a 213,000 level in the November 3 week after a decrease of
2,000 to 214,000 level in the previous week. The impact of Hurricane
Michael may reappear over the next several weeks. The four-week moving
average would fall by 500 in the coming week as the 215,000 level in the
October 6 rolls out of the calculation, assuming the MNI forecast is
correct and there are no revisions.
Producer Price Index for October (percent change)
Friday, November 9 at 8:30 a.m. ET Actual:
Median Range Oct18 Sep18 Aug18
Final Demand +0.3% +0.2% to +0.4% -- +0.2% -0.1%
Ex Food,Energy +0.2% +0.1% to +0.3% -- +0.2% -0.1%
Comments: Final demand PPI is expected to rise 0.3% in October
after a 0.2% September increase, showing some impact from Hurricane
Michael on food and energy prices. Energy prices are expected to post a
rebound following a 0.8% September decrease, while food prices are
expected to tick up after a further 0.6% decline. Excluding food and
energy prices, PPI is forecast to rise 0.2% after a 0.2% September
University of Michigan Survey for November (preliminary)
Friday, November 9 at 10:00 a.m. ET Actual:
Median Range Nov18p Oct18 Sep18
Consumer Sent 98.5 96.5 to 99.1 -- 98.6 100.1
Comments: The Michigan Sentiment index is expected to dip slightly
to 98.5 in early-November from 98.6 in October. The sharp stock market
declines in late-October put a damper on confidence.
--MNI Washington Bureau; +1 (973) 494-2611; email: firstname.lastname@example.org