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1 Feb 2016
US ISM: Manufacturing activity probably expanded modestly in January – SocGen
FXStreet (Delhi) – Research Team at Societe Generale, suggests that the district Federal Reserve Bank canvasses, combined with midwestern purchasing manager surveys and Markit Economics national report, suggest that the Institute for Supply Management’s (ISM) manufacturing gauge climbed to 50.5 in January – the first reading in expansionary territory since October.
Key Quotes
“Available soundings suggest that the ISM hiring gauge remained on a saw-toothed path during the reference period, climbing back to the 50-point mark associated with stable employment. On the inflation front, reports of lower input costs likely narrowed during the reference period, but at 40.8 the ISM prices-pad diffusion index probably remained below breakeven for a 15th straight month.”
Key Quotes
“Available soundings suggest that the ISM hiring gauge remained on a saw-toothed path during the reference period, climbing back to the 50-point mark associated with stable employment. On the inflation front, reports of lower input costs likely narrowed during the reference period, but at 40.8 the ISM prices-pad diffusion index probably remained below breakeven for a 15th straight month.”