Analysts at TD Securities are on consensus for a minor gain in the US ISM index (to 54.5 from 54.2) as the regional Fed surveys suggest manufacturing activity is holding up or may have even recovered in March.
Key Quotes
“Across-the-board weak global manufacturing PMIs increase the risk for a downside surprise.”
“Separately, we expect retail sales to have advanced at a 0.2% m/m pace in February (below consensus: 0.3%), on the back of a solid increase in gasoline sales thanks to higher prices but a more subdued gain in sales in the control group (0.3%).”
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