Here are my forecasts for upcoming economic data.
`
Forecast
Prior Observation
Consensus
Week of June 5
June 5
Productivity – Q1 (r)
-0.1%
-0.6
-0.2
Unit Labor Costs
2.5
3.0
2.6
Factory Orders – April
-0.2%
0.2
-0.2
PMI Services Index
54.0
54.0
54.0
ISM Services – May
57.0
57.5
57.0
June 6
JOLTS – April
5.725M
5.743
5.725
June 7
Consumer Credit – April
$17.0B
16.4
17.0
June 8
Initial Unemployment Claims
240K
248
241
June 9
Wholesale Inventories – April
-0.3
-0.3%
-0.3
Week of June 12
June 12
Treasury Budget – May
-$103.0B
182.4
June 13
NFIB Small Business Optimism Index – May
105.0
104.5
Producer Price Index – May
0.1%
0.5
PPI Core
0.2
0.4
June 14
Consumer Price Index – May
0.0%
0.2
Core CPI
0.2
0.1
Retail Sales – May
0.2%
0.4
Retail Sales, ex Autos
0.3
0.3
Business Inventories – April
-0.1%
0.2
June 15
Initial Unemployment Claims
Philadelphia Fed Survey Index
22.0
38.8
NY Fed Manufacturing Index
5.0
-1.0
Export Prices – May
0.2%
0.5
Import Prices
0.1
0.2
Industrial Production – May
0.1%
1.0
Capacity Utilization
76.7
76.7
NAHB Index – June
70
70
June 16
Housing Starts – May
1.225M
1.172
Building Permits
1.250
1.229
Michigan Consumer Sentiment – June (p)
97.5
97.1
