US ADP employment report and non-manufacturing ISM in the limelight – Lloyds Bank

Hann-Ju Ho, Research Analyst at Lloyds Bank, explains that the US ADP employment report and non-manufacturing ISM survey will provide further clues on the state of the labour market in April, ahead of the official figures on Friday (where we look for a rise of 200k).

Key Quotes

“We anticipate a rise of 175k in the ADP report, in line with the market consensus. For the headline ISM index, we look for a rise to 56.0 from 55.2, slightly above the consensus forecast for 55.8. Survey evidence showing strong activity and a rebound in jobs growth should support our view that weak Q1 GDP was temporary.”