USA Manufacturing Production (MoM) For May 0.1% Vs -0.1% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA manufacturing production for May increased by 0.1%, beating the estimated -0.1% and showing an improvement from the prior 0.9%.
June 15, 2023 | 1:19 pm
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POSITIVE IMPACT
USA manufacturing production for May increased by 0.1%, which may have a positive impact on the SPY ETF.
The increase in manufacturing production for May indicates a positive trend in the economy, which may lead to a positive impact on the SPY ETF. The SPY ETF tracks the performance of the S&P 500, and a stronger manufacturing sector could contribute to overall market growth.
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