4 Aug 2015
US ISM Manufacturing ready to pick up in H2 – Danske Bank
FXStreet (Edinburgh) - Senior Analyst at Danske Bank Pernille Henneberg sees the key US indicator to get stronger in the next months.
Key Quotes
“The US manufacturing ISM figure was weaker than expected in July as it declined to 52.7 from 53.5 (consensus 53.5)”.
“However, the details were stronger than the headline figure as domestic demand led to an increase in new orders”.
“At the same time, higher inventories resulted in an improved order-inventory balance, which suggests the headline figure will strengthen”.
“In line with this, we expect a moderate pick up in ISM manufacturing in H2 as the manufacturing sector should benefit from an overall strengthening of demand”.
Key Quotes
“The US manufacturing ISM figure was weaker than expected in July as it declined to 52.7 from 53.5 (consensus 53.5)”.
“However, the details were stronger than the headline figure as domestic demand led to an increase in new orders”.
“At the same time, higher inventories resulted in an improved order-inventory balance, which suggests the headline figure will strengthen”.
“In line with this, we expect a moderate pick up in ISM manufacturing in H2 as the manufacturing sector should benefit from an overall strengthening of demand”.