Written by Steven Hansen
The ISM Manufacturing survey insignificantly declined and remained in expansion. The key internals are in expansion. The Markit PMI manufacturing Index is in positive territory and insignificantly improved.
Analyst Opinion of the ISM Manufacturing Survey
Based on these surveys and the district Federal Reserve Surveys, one would expect the Fed’s Industrial Production index growth rate remain about the same as last month. Overall, surveys do not have a high correlation to the movement of industrial production (manufacturing) since the Great Recession.
From Bloomberg / Econoday:
From the Markit PMI Manufacturing Index:
March PMI indicates strongest manufacturing growth for three years
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