Always accentuating even the slightly and/or potentially negative, here’s what AP, in an unbylined article at Biz Weak’s site, had to say about the impending Institute for Supply Management Manufacturing Index for May earlier this morning:
Wall Street is not anticipating signs of more robust U.S. economic growth when an index of May manufacturing activity is released Friday.
Economists expect the Institute for Supply Management’s May manufacturing index, scheduled for release at 10 a.m. EDT, to decline to 54, from a 54.7 reading in April, according to Thomson Financial. A figure above 50 indicates the manufacturing sector is expanding.
FXstreet.com also said expectations were for a reading of 54.
It came in at 55.0, going up a bit instead of down. Ahem, AP — That would be a sign of (slightly) “more robust economic growth.”
The index is on the verge of some impressive records. Stay tuned in coming months.