Factory Orders Ex Transportation MoM For May -0.5% Vs 0.5% Expected; -0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
Factory orders excluding transportation for May have decreased by 0.5%, which is lower than the expected 0.5% and the prior 0.2%.
July 05, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower than expected factory orders could potentially impact the overall market, represented by SPY.
Factory orders are a key indicator of economic health. A decrease in factory orders suggests a potential slowdown in the economy, which could negatively impact the overall market, represented by SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75