U.S: Expect growth in manufacturing in Q3

This morning’s ISM manufacturing report surprised on the upside reaching its highest level since August 2008 (from 44.8 to 48.9) and approaching the key 50 threshold. On an even more positive note, the new orders component has entered firmly in growth territory showing a reading of 55.3, a level not seen since June 2007, i.e. before the recession began. As today’s Hot Charts shows, over the last fifty years, such a strong signal on the new orders side has always been associated with the end of