Markit manufacturing PMI matches expectations
The highlights of Monday's economic calendar are data on the manufacturing sector during April.
Markit Economics' final purchasing manager's index came in at 50.8, unchanged from the preliminary reading.
This print indicated that the manufacturing economy barely grew or contracted. But it pointed to the weakest performance since September 2009.
After a brief resurgence in the last few months, new business growth slowed to the slowest pace so far seen in 2016.
At 10 a.m., the ISM manufacturing index is expected at 52, up from 51.5 in the prior period.
Two of the big challenges the sector has faced in the last few years have been reversing course. Crude oil prices have risen about 20% this year. And, the broad trade-weighted dollar index is at the lowest levels since October.
"This should help the manufacturing sector, as US goods regain some competitiveness in the global economy," Bank of America Merrill Lynch economists wrote to clients. "Crude oil prices have also been on the uptrend, relieving some pressure on the energy sector."
"That said, there are some downside risks as the regional Philly Fed survey showed a significant decline in shipments, new orders, and employees."
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