US ISM PMI to strengthen to 53.4 - TDS

Research Team at TDS, suggests that they and the wider market are taking opposite sides of the bet with regard to the ISM Manufacturing Index.

Key Quotes

“While the market looks for a slight decline to 53, TD expects ISM PMI to strengthen to 53.4 on gains in the production and employment. New orders, however, could be weaker due to a slowdown in durable goods orders.

Construction spending will be released simultaneously and is expected by both TD and the market to post a rebound following the 0.8% decline in May. TD forecasts spending to increase by 0.4% m/m, slightly below the market consensus for 0.5% m/m.”