US: ISM preview for April

March’s ISM figure rose slightly to 36.3 from 35.8 in February. Although the composite rose only marginally, the report included stronger details, as new orders rose from 33.1 to 41.2, while inventories dropped from 37.0 to 32.2. The improved orders-inventory balance bodes well for April’s release. The prices index rose slightly from 29.0 to 31.0. The readings from the local indices have been very positive this month, with improvements in all regions. Overall the local indices have improved by