US: ISM manufacturing to signal continued growth in the manufacturing - Nomura

Analysts at Nomura think the February ISM manufacturing survey will signal continued growth in the US manufacturing sector albeit at a slightly slower pace.

Key Quotes

“We expect the headline index to fall slightly by 0.6pp to 58.5, which is still an elevated reading. The Empire State and Philly Fed surveys indicated sustained expansion in February. The new orders subindices for both surveys improved, indicating a modest pickup in near-term manufacturing momentum. We expect the ISM survey to be mostly consistent with these regional surveys.”