US: Weakness in manufacturing ISM index – TDS

Analysts at TD Securities note that the US manufacturing ISM index fell to 47.2 in December from 48.1 in November, below the 49.0 consensus.

Key Quotes

“The orders index fell to 46.8 from 47.2, with the export orders index down to 47.3 from 47.9. The downside surprise increases the importance of the non-manufacturing ISM report on Tuesday. More positively, but less important, construction spending rose 0.6% in November, above the 0.4% consensus.”