After strong Chicago PMI and Richmond and KC Fed Data the last two days, economists now are revising up their forecasts for ISM.
The “whisper number” (the forecasts the economists don’t have the balls to make publicly) had been below the “boom/bust” line at 50. Now they are shading them higher. One well-respected economics shop just raised their forecast from the 52 area to 57.5.
Needless to say, the risk now is that we get a disappointing number in the low 50s…That could spark a risk-off slide into the weekend….
