Smith Faculty Opinion Article	August 30, 2007
By Dr. Peter Morici, Professor of International Business E-MAIL WEB SITE

Forecast

August 31
Personal Income - July 0.3% 0.4
Per Con Expenditures 0.3% 0.1
PCE Deflator 0.1% 0.3
Core PCE Deflator 0.2% 0.1
Real Per Consumption 0.2% 0.0

Chicago PMI - August 55.0 53.4

Factory Orders - July 3.1% 0.6
Durable Goods Orders 5.5% 5.9
Nondurable Goods Orders 0.5% -0.1

Mich Cons Sentiment - Aug(r) 84.4 83.3

Week of September 3

September 4
Construction Spending - Aug 0.2 -0.3

ISM Index - August 53.0 53.8
ISM Prices 65.0 65.0

September 5
Pending Home Sales - July 101 102.4

Auto Sales - August 15.50 15.28*
Car Sales 7.31m 7.19 Domestic 4.81 4.73*
Truck Sales 8.19m 8.09 Domestic 6.76 6.68
*SAAR as published by Motor Intelligence

ADP Employment August 80 48

September 6
Initial Jobless Claims 327k 334

Productivity (r) - Q2 2.2% 1.8
Unit Labor Cost 1.7 2.1

ISM Services - August 54.8 55.8
ISM Services Prices 61.0 61.3

September 7
Non-farm Payrolls - August 105k 92
Unemployment Rate 4.6% 4.6
Ave. Hourly Earnings 0.3% 0.3
Ave. Work Week 33.8 33.8

Wholesale Inventories 0.5% 0.5
Wholesale Sales 0.7% 0.6

Week of September 10

September 10
Consumer Credit - July $11.0b 13.1b

September 11
Trade Balance - July -$59.4b -58.1

September 13
Treasury Budget -56.0b -36.3

September 14
Current Account - Q2 $191.7 -192.6

Export Prices - August 0.2% 0.2
Export Prices, ex agriculture 0.2% 0.0

Import Prices - August 0.3% 1.5
Import Prices, ex petroleum 0.2 0.2

Retail Sales - August 0.8% 0.3
Retail Sales (ex autos) 0.2 0.4

Business Inventories -July 0.4% 0.4

Industrial Production - August 0.3% 0.3
Capacity Utilization 82.1 81.9

Peter Morici is a professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission. ►More Faculty Opinion Articles