ISM’s Manufacturing Purchasing Managers’ Index for March is set to show robust activity in the industrial sector. Markets have been keyed to improving US statistics and are set to advance on upbeat figures, Joseph Trevisani, an Analyst at FXStreet, reports.
March PMI forecast of 61.3 would be the highest since May 2004
“The Purchasing Managers’ Index (PMI) from the Institute for Supply Management (ISM) is forecast to rise to 61.3 in March from 60.8 in February. The Employment Index is expected to slip to 53 from 54.4 in February and the prices Paid Index should fade to 85 from 86. The crucial New Orders Index was 64.8 in February.”
“Orders have poured into factories for more than six months. Consumer optimism is returning with employment and consumption backed by government subsidies, the boom should continue until the end of the year.”
“If the manufacturing outlook rises, especially if the Employment Index jumps, markets will have the confirmation they need for further advances.”
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