US: ISM manufacturing index likely to print 59.0 for the April – Nomura

Analysts at Nomura expect 59.0 for the April estimate ISM manufacturing index of US after coming in at 59.3 in March.

Key Quotes

“Incoming business surveys indicated modest moderation in activity. The new orders and shipment indices of the Empire State and Philly Fed surveys fell in April, although they are still well within expansionary territory. Moreover, notable declines in forward-looking business sentiment measures of these surveys appear consistent with manufacturers’ concerns over US trade policies. Although current activity appears healthy, escalation in trade concerns will likely weigh on business sentiment.”