US: Some slippage expected in the ISM – TDS

The United States of America will release ADP Employment Change at 13.15 GMT and the Non-manufacturing ISM at 15:00 GMT. Analysts at TD Securities forecast the numbers expected.

Key quotes

“The non-manufacturing ISM index is unlikely to be as weak as the manufacturing index, or the Markit services PMI (49.4), but we expect some slippage, due in part to COVID-19 worries. We forecast a 1pt decline to 54.5 for February.”

“We expect the ADP private employment report to show a 170k increase for Feb.” 

“Lastly, the Beige Book will probably get more attention than usual given worries about COVID-19 although, as usual, its information value will be limited by the lack of numbers.”