US: ISM non-manufacturing index likely to print 58.6 for April - Nomura

US business activity likely expanded steadily despite rising concerns over trade tensions, according to analysts at Nomura.

Key Quotes

“We expect a healthy reading of 58.6 for the April estimate of the ISM non-manufacturing index, down slightly from 58.8 in March. Incoming business surveys reflected mounting concerns over escalating trade tensions, but incoming data point to steady expansion in business in non-manufacturing sectors which appears consistent with elevated demand.”