NEW YORK (MNI) – Forecasters see a 1.2% increase in the March U.S.
Producer Price Index Thursday, the third statistic in the beginning of
the three-month MNI Forecast Competition.
Forecast contest participants delivered their PPI forecasts by the
10:30 ET deadline.
Earlier Wednesday, the average of the forecasts for the report on
U.S. retail sales of +0.8% turned out to be off be 0.4 point.
On Tuesday, the average of the forecasts for the U.S. February
Monthly Trade Balance of $45.7 billion turned out to be off the actual
result, $45.8 billion, by only $100 million.
Friday’s Consumer Price Index is the next statistic being estimated
in the competition and the deadline for participation is 10:30 ET
Thursday.
Participants can register for the online contest without cost at
http://mni.lumenogic.com/mni/login/login.html where there is more
information and a guided tour. The results will continue to be published
by Market News International.
The contest runs until June 30. The contest will decide who wins
the title of Best Overall Forecaster, the recipient of the $1,500 prize.
When the outcome of each economic indicator is published — the
initial release without revisions — each individual forecast will be
scored for how soon it was registered and for its accuracy. The total
score for every participant will be summed up on a monthly basis and
ranked in descending order.
Each month until June 30, the three forecasters with the highest
scores will be awarded Visa gift cards worth up to $500. The MNI
Forecast Competition outcome for each indicator, determined by averaging
all participant forecasts, will be published on the MNI Main Wire and by
MNI Bullet Points at least 12 hours prior to the official release time.
At the end of June, MNI will award the competition’s Best Overall
Forecaster award with a Visa gift card of $1,500.
The competition covers the following 10 U.S. economic reports:
International Trade Balance
Retail Sales
PPI
CPI
Industrial Production
Housing Starts
Durable Goods Orders
New Homes Sales
ISM Manufacturing Index
Nonfarm Payrolls
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