Richmond Manufacturing Index For June -7 Vs -10 Est. -15 Prior
Portfolio Pulse from Happy Mohamed
The Richmond Manufacturing Index for June came in at -7, better than the estimated -10 and an improvement from the previous month's -15.
June 27, 2023 | 2:05 pm
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POSITIVE IMPACT
The better-than-expected Richmond Manufacturing Index for June may have a positive impact on the overall market, including the SPY ETF.
The Richmond Manufacturing Index is an indicator of economic health in the manufacturing sector. A better-than-expected result suggests improvement in the sector, which may positively impact the overall market and the SPY ETF, as it tracks the performance of the S&P 500.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50