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Quicktake on ISM, Reinforcing Recover?

US DATA
Citi economists opinion on Monday's ISM Services "could reinforce the strong recovery narrative." Better than the current mean estimate running 59.0 for March (55.3 in Feb), Citi estimates 59.5, expecting a rebound in new orders and activity components that was tied to bad winter weather "that weighed on activity in sectors such as construction or food services."
  • This drag should rebound in March, with additional strength from a continued pick-up in activity as more restrictions are lifted. Of the sub-components, the prices paid index will also be an important factor in gauging near-term inflation.

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