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The Institute for Supply Management will release its latest survey on manufacturing at 10am, and all eyes will be on the headline index which should finally break through 50 – the break even mark between expansion contraction.
Moody’s economist John Lonski is looking for 50.7, which would be the best showing since January 2008 and further sign that the bad old days of the post-Lehman tailspin are behind the us.
You can find the release here at 10am.
The latest data out on U.S. manufacturing is encouraging to say the least. Coupled with a similar improvement in Europe and it’s easy to get caught up in the giddy feeling that has definitely gripped the stock market.
The Institute for Supply Management reported that its headline U.S. manufacturing index hit 48.9 in July, above expectations and just shy of 50 – the breakeven point between expansion and contraction. New orders and production were both above that threshold, which points to future growth.