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2 Mar 2015
US ISM Manufacturing PMI to decline to 53.0 in February – Nomra
FXStreet (Barcelona) - Research Analysts at Nomura preview they key data releases in the US today, expecting February ISM manufacturing PMI to register a 0.5pt decline to 53.0.
Key Quotes
“The January ISM manufacturing report suggested that factory activity’s slowing momentum continued into 2015, after growing at a robust pace since Q2 2014. It is possible that the drop in energy prices and the labor disputes at West Coast ports contributed to some of this slow down.”
“This month, regional manufacturing surveys have remained subdued. In addition, inclement weather continued to plague several regions throughout the month and possibly weighed on activity. As such we expect the ISM manufacturing index to decline by 0.5pts to 53.0 in February.”
“Construction spending entered Q4 on a good footing, but slowed at the end of the year. This is primarily due to the nonresidential sector as momentum appears to be picking up in the residential sector.”
“Business surveys were more downbeat in January and the drop in energy prices might weigh on investment in business structures. Consensus expects construction spending to increase by 0.4% again in January.”
Key Quotes
“The January ISM manufacturing report suggested that factory activity’s slowing momentum continued into 2015, after growing at a robust pace since Q2 2014. It is possible that the drop in energy prices and the labor disputes at West Coast ports contributed to some of this slow down.”
“This month, regional manufacturing surveys have remained subdued. In addition, inclement weather continued to plague several regions throughout the month and possibly weighed on activity. As such we expect the ISM manufacturing index to decline by 0.5pts to 53.0 in February.”
“Construction spending entered Q4 on a good footing, but slowed at the end of the year. This is primarily due to the nonresidential sector as momentum appears to be picking up in the residential sector.”
“Business surveys were more downbeat in January and the drop in energy prices might weigh on investment in business structures. Consensus expects construction spending to increase by 0.4% again in January.”