Monday, August 30, 2010

Regional Fed Manufacturing Surveys and the ISM PMI

by Calculated Risk on 8/30/2010 11:39:00 AM

Now that all the regional Fed manufacturing surveys for August have been released, here is an update to the graph I posted last week:

Fed Manufacturing Surveys and ISM PMI Click on graph for larger image in new window.

For this graph I averaged the New York and Philly Fed surveys (dashed green), and averaged five surveys including New York, Philly, Richmond, Dallas and Kansas City (blue).

The Institute for Supply Management (ISM) PMI (red) is through July (right axis).

ISM PMI for August will be released on Wednesday at 10 AM ET. The consensus is for a decline to 53.0 from 55.5 in July.

Based on the regional surveys, it appears that the PMI will decline in August - but will probably still be above 50 (indicating expansion in August).