US: ISM manufacturing index to decline modestly in August – TD Securities

Analysts at TD Securities are looking for the US ISM manufacturing index to decline modestly to 51.0 in August from 51.2 before, as they expect the back-and-forth in trade retaliations to have maintained the outlook for manufacturing subdued.

Key Quotes

“The message from the ISM-adjusted regional surveys was mixed, with the average of the indices supporting our view for a largely unchanged print.”

“Other data was also mixed, as recent firm growth in core durable goods orders suggest some upside, while a weak Markit PMI survey increases the odds for a downside surprise in August.”