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US Week Ahead: Nonfarm Payrolls, ISM, Beige Book, Trade Balance, Factory Orders
The August ISM manufacturing PMI is likely to move almost 3 points lower to 52.5. Regional reports on manufacturing were softer for the month. The Empire State Manufacturing survey moved down about 1 point, while the Philadelphia Fed Business Outlook survey pulled back over 10 points, pointing to slower activity during the month of August. Both surveys reported slower new orders, and with the drop in July durable goods orders it is likely that overall production activity was slower during August. The July International Trade deficit likely widened to -USD39.5bn, from -USD34.2bn in June. Imports of petroleum products ... (full story)
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