11 Mar 2016
After strong NZ manufacturing data, focus on UK construction and US import data - TDS
Research Team at TDS, notes that the NZ Manufacturing remains in the expansion zone at 56 in Feb, dropping from the 15 month high in Jan.
Key Quotes
“New orders are the highest in a year, but the employment gauge dropped to the lowest in two and half years.
UK: Construction activity likely remained flat in Jan (mkt +0.2%). While data quality remains questionable, construction should be supported by continued strength in mortgage approvals, but a sharp decline in January’s construction PMI won’t have helped much, eliminating any gains from the housing sector.
US: The Import Price Index is expected to slip 0.7% m/m by the market or 6.5% on a year-ago basis. TD sees the index falling 0.5% m/m and a much more substantial 11.9% y/y.”
Key Quotes
“New orders are the highest in a year, but the employment gauge dropped to the lowest in two and half years.
UK: Construction activity likely remained flat in Jan (mkt +0.2%). While data quality remains questionable, construction should be supported by continued strength in mortgage approvals, but a sharp decline in January’s construction PMI won’t have helped much, eliminating any gains from the housing sector.
US: The Import Price Index is expected to slip 0.7% m/m by the market or 6.5% on a year-ago basis. TD sees the index falling 0.5% m/m and a much more substantial 11.9% y/y.”