The ISM Manufacturing Index is expected to remain unchanged at 53.2 in tomorrow’s update for March vs. the previous month, based on The Capital Spectator’s median econometric forecast. Meanwhile, this median projection is moderately below three consensus forecasts via surveys of economists.
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It’s all about supply and demand–the first, last, and everything for estimating the projected path of prices. Geopolitics can and does intrude, of course. This is oil, after all. But the raw numbers of economics have the last word eventually—even for the world’s most valuable commodity.
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