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6 Aug 2015
Effects of ISM could spill over the US economy – Danske Bank
FXStreet (Edinburgh) - Senior Analyst at Danske Bank Morten Helt sees the recent healthy results from the US ISM Non-manufacturing impacting positively on the rest of the economy.
Key Quotes
“US ISM non-manufacturing surprised on the upside rising to the highest level since 2005 at 60.3 in July from 56.0”.
“Moreover, the final print for the service sector ISM also rose more than initially estimated to 55.7 in July from a previous estimate of 55.5”.
“The US service sector, which is less affected by the headwind from the stronger USD, remains strong and we expect this to spill over to the manufacturing sector and support employment growth”.
Key Quotes
“US ISM non-manufacturing surprised on the upside rising to the highest level since 2005 at 60.3 in July from 56.0”.
“Moreover, the final print for the service sector ISM also rose more than initially estimated to 55.7 in July from a previous estimate of 55.5”.
“The US service sector, which is less affected by the headwind from the stronger USD, remains strong and we expect this to spill over to the manufacturing sector and support employment growth”.