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Morgan Stanley economists...........>

US DATA PREVIEW
US DATA PREVIEW: Morgan Stanley economists forecast the March ISM index falling
"0.6% to 60.4. Indications from the regional Fed manufacturing surveys have been
mixed, and in the aggregate suggest a slight softening in manufacturing activity
this month." MS adds that although the "ISM-weighted NY, Philly, and Kansas City
FRB surveys all rose earlier in the month, the Dallas and Richmond FRB surveys
released this past week saw large declines on an ISM-comparable basis.
Altogether, the ISM-adjusted average across the five surveys comes to 57.5 in
March vs. 57.9 in February."

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