S&P Global Composite PMI For July 52 Vs 53.1 Est.; 53.2 Prior
Portfolio Pulse from Happy Mohamed
The S&P Global Composite PMI for July came in at 52, lower than the estimated 53.1 and the prior figure of 53.2.
July 24, 2023 | 1:46 pm
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NEGATIVE IMPACT
The lower-than-expected PMI could potentially impact the SPY ETF, as it reflects a slowdown in economic activity.
The Purchasing Managers' Index (PMI) is a key economic indicator. A lower-than-expected PMI suggests a slowdown in economic activity, which could negatively impact the stock market and, by extension, the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80