U.S. ISM manufacturing index likely to have rebounded in August

U.S. ISM manufacturing index is expected to have rebounded in August. According to a TD Economics research report, ISM manufacturing index is likely to have recovered to 56.7 from 56.3. Regional surveys on balance point to a rebound, as does stable growth in core manufacturing production.

Forward-looking indicators continued to have strong levels through July, in line with healthy activity in the third quarter. One source of downside risk in August are market risk sentiment and political risk factors such as the start of Nafta renegotiations and political controversy stemming from the administration, noted TD Economics.

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