Two More Big Economic Reports Are Coming Out Today
From Nomura:
US ISM Manufacturing: The ISM manufacturing index increased for a third straight month in February. In March, financial conditions remained supportive, but regional surveys of manufacturing sentiment have been mixed -- the Empire State manufacturing index declined slightly, while the Philly Fed survey entered positive territory for the first time this year. These results lead us to forecast a nearly unchanged reading in the ISM manufacturing index at 54.1 in March from 54.2 in February (10:00 EDT, Consensus: 54.0).
US Construction spending: After increasing for most of 2012, construction spending declined by 2.1% m-o-m in January. Consensus expects a month-over-month increase of 1.0% in construction spending in February (10:00 EDT).