US: Focus on ISM manufacturing and construction spending - Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura expect the US ISM manufacturing index to rise to 58.0 in May (Consensus: 58.2), from 57.3 in April.

Key Quotes

“The Empire State and Philly Fed surveys indicate solid activity in May, while concerns over US trade policies likely weighed on forward-looking measures. Overall, the strength was broad-based across measures of current business activity and demand, which suggests a strong May ISM manufacturing report.”

“Construction spending: Construction spending fell 1.7% m-o-m in March, partly driven by a sharp 8.0% decline in private residential improvement spending. However, private residential construction spending overall was weak as both single- and multi-family construction spending declined. Construction spending in April could rebound given idiosyncratic declines in home improvement spending.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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