US: Evidence of growth likely in the business confidence indicators - Rabobank

Analysts at Rabobank suggest that further evidence of US growth could be found in the business confidence indicators that are scheduled for today.

Key Quotes

“Over the coming period, it should become clearer how Trump’s trade stance is affecting businesses in the US. One would expect that those companies that are more domestically oriented and have less of an international focus should benefit from a crackdown on the international competition, while larger or more internationally oriented producers may fear the impact of retaliatory trade sanctions.”

“So far, the NFIB small business survey has been holding steady at healthy levels. The nation-wide Markit and ISM purchasing managers’ indices for larger companies won’t be out until later in the month, but regional surveys may give some direction until then. The Empire manufacturing survey is expected to show a modest improvement in sentiment amongst New York businesses, while the Philadelphia Fed business outlook survey is forecast to decline somewhat, according to consensus estimates.”