Forex - Preview: due 2 Dec - US Nov ISM Manufacturing Index


 15:38 (GMT) 27 Nov

  [Economic Data]

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Preview: due 2 Dec - US Nov ISM Manufacturing Index (0101-QBYD-C01)

We expect Nov's ISM manufacturing index to be unchanged at 48.3, marginally above its recent low of 47.8 seen in Sep.

Preview: due 2 Dec - US Nov ISM Manufacturing Index (0101-QBYD-C02)

Markit manufacturing PMI data appears to have found a base but the regional surveys in Oct were mixed, with more marginally lower than marginally higher, overall a fairly neutral message.

Preview: due 2 Dec - US Nov ISM Manufacturing Index (0101-QBYD-C03)

The ISM breakdown should show new orders, employment and inventories slipping back from modest Oct improvement, though production and delivery times can improve from weaker Oct data. Export orders is not a contributor to the composite but is with a look after a bounce in Oct to 50.4 from Sep's very weak 41.0, a bounce that may be difficult to sustain. Prices paid also do not contribute to the composite and we expect a modest rise to 47.0 from Oct's significantly weaker 45.5.


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