U.S. ISM Manufacturing Index likely to jump back into expansionary territory in March
Since August last year, U.S. ISM Manufacturing Index has been lingering in recessionary territory. In March the index is expected to jump back into expansionary territory. TD Economics expects the index to rise to 50.4, which will underscore that the prolonged contraction in this beleaguered sector may be nearing an end.
U.S. ISM Manufacturing Index is scheduled for release on 1st of April and is likely to mirror the upbeat tone in the various regional manufacturing sector indicators. Details are likely to show key forward-looking indicators such as the employment and new orders have shifted firmly into expansionary territory.
"With the global headwinds appearing to be abating and the dollar surrendering some of it recent gains, the outlook of the manufacturing sector is becoming slightly more favorable." said TD Economics in a report.