🔻Expect ISM Manufacturing Index Below 50.0: Cable FX Macro
- Rosbel Durán
- Oct 30, 2022
- 1 min read
Given the recent performance seen in Fed activity indicators, we're likely to see a continuation of softness in the ISM manufacturing gauge
Last month, we saw a rebound in the new orders and prices paid, while the production index fell the most. The broad index fell by 1.9pp to 50.9
The easing is set to continue as Fed activity indexes recorded softer readings. The Empire State figure fell to -9.1 from -1.5, Dallas Fed Mfg Index dipped to -10 from 0, the Kansas Fed Composite dropped to -7.0 from 1.0.
The readings took the average of the Fed activity indicators to lowest since May 2020
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