ISM Manufacturing PMI For June 46 Vs 47.2 Est.; 46.9 Prior
Portfolio Pulse from Happy Mohamed
The ISM Manufacturing PMI for June came in at 46, lower than the estimated 47.2 and the prior figure of 46.9.
July 03, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower than expected ISM Manufacturing PMI for June may negatively impact the SPY ETF, as it indicates a slower recovery in the manufacturing sector.
The ISM Manufacturing PMI is a key indicator of the health of the manufacturing sector. A lower than expected figure suggests a slower recovery, which could negatively impact the broader market and, by extension, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75