US: ISM manufacturing expected to fell back slightly to 56.0 in March – Danske Bank

Research Team at Danske Bank explains that today, ISM manufacturing for March is due out in the US and they estimate that the ISM manufacturing fell back slightly to 56.0 in March.

Key Quotes

“ISM manufacturing has soared over the past couple of months, emphasising that there is progress in manufacturing. In the same period, we have seen a divergence between ISM and PMI manufacturing emerge. Based on this, one would argue that ISM manufacturing could be in for a fall. However, regional manufacturing indices continued rising in March. Thus, there are mixed signals concerning the March ISM figures. We estimate that the ISM manufacturing fell back slightly to 56.0 in March.”

“Today also brings a number of speeches by FOMC members and we will also get the minutes from the 14-15 March FOMC meeting on Wednesday. We will in particular look for discussions on the Fed's desire to begin shrinking its balance sheet, as Fed Chair Janet Yellen said at the press conference that the FOMC members discussed it at the meeting.”