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(M1)‌‌ Needle Still Points North

On tap for Friday: NA-made light......>

US DATA REACT: On tap for Friday: NA-made light vehicle sales throughout the
session; January personal income (0.3% est); Dec current dollar PCE (-0.1%);
February Markit Mfg Index; March Michigan sentiment index (f) (95.8 est);
February ISM Manufacturing Index (56.6, 55.5).
- Danske Bank on ISM manufacturing data for February said the "survey still
indicates that the manufacturing sector is expanding in general. As consumption
continues to strengthen" Danske expect ISM "stabilize around its current lvl."
- JP Morgan economists expect the Markit manufacturing PMI's "headline composite
to be revised up from 53.7 to 54.0 between the flash and final February reports,
which would represent a 0.9pt decline relative to the final January reading."
JPM added the "flash February report, the headline declined to its lowest level
since September 2017."
- On personal income and spending, Morgan Stanley economist see "a strong 0.5%
gain in nominal personal income in December and a solid 0.4% rise in January.
Spending, meanwhile, is poised for an outsized 0.5% drop in December, which
would be the worst reading since 2009."
MNI Chicago Bureau | +1 312-431-0089 |