Has ISM Manufacturing bottomed out? – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Senior Analyst at Danske Bank Signe Roed-Frederiksen has assessed the recent figures from the key indicator in the US economy.

    Key Quotes

    “The US manufacturing ISM for October declined to 50.1 from 50.2 (consensus expectations 50.0, Danske Bank 49.6) and the details of the survey were better than the headline”.

    “New orders increased to 52.9 from 50.1, which is the best level since July this year. Customer inventories, which is our preferred inventory measure in the survey, declined to 51.0 from 54.5 and the order-inventory differential took a rebound from the dip last month but remains depressed”.

    “New export orders increased to 47.5 from 46.5, suggesting some stabilisation in global demand”.

    “The employment index softened to 47.6 from 50.5 and we have pencilled in an 11,000 drop in manufacturing employment for Friday’s non-farm payrolls report but stick to our estimate of 170,000 in overall job growth”.
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