US: ISM data to portray an economy plunging into recession – TDS

The US will release ADP Employment Change at 12:15 GMT and ISM Manufacturing PMI at 14:00 GMT. Analysts at TD Securities forecast the figures of the American data.

Key quotes

“March ISM data are likely to portray an economy plunging into recession, even with many of the responses to the survey largely reflecting activity in the first half of the month.” 

“A sharp decline in the headline index looks likely even with a boost from slower delivery times. We forecast a drop to 44.0 for March following a small decline to 50.1 in February. April should be even weaker.” 

“We're forecasting an ADP employment print at -100k for March, with consensus looking for a larger drop at -150k.”