The ISM Manufacturing PMI has been in contraction for nearly a year, indeed US manufacturing has been in recessionary territory also. The expectations is for an 11th consecutive month in contraction. During the 2007-2008 Great Recession this indicator recorded a 12-month run of contraction.
The data due later on Monday (1000 US Eastern time) is not expected to show too much improvement:
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
The range expected is 46.5 - 50.0.
For the 'prices paid' component, this is expected to be boosted by higher energy costs.
The ISM fun won;t be done today, on Wednesday it's the 'Services" side due.
