US: ISM Non-Manufacturing Index Losing Streak to End - RBS
Brian Daingerfield, FX Trading Strategist at RBS, suggests that today the ISM non-manufacturing index is released for March in the US.
“With manufacturing still struggling, though showing signs of stabilization more recently, the services sector is still expected to be the driver of economic growth in the US. But the ISM non-manufacturing index has slipped in four consecutive months, from 58.3 in October to just 53.4 in February.
Our economists forecast that streak will end in March, looking for an uptick to 54.5. In their preview, our economists point out that this index has had some sensitivity to financial market turmoil – easier financial conditions of late may help support the services measure.”
(Market News Provided by FXstreet)