S&P Global US Manufacturing PMI For July 49.0 Vs 49.0 Est.; 46.3 Prior
Portfolio Pulse from Happy Mohamed
The S&P Global US Manufacturing PMI for July is reported at 49.0, which is in line with estimates and higher than the previous month's figure of 46.3.
August 01, 2023 | 3:23 pm
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POSITIVE IMPACT
The S&P Global US Manufacturing PMI for July, which is in line with estimates and higher than the previous month, may have a neutral to positive impact on SPY.
The S&P Global US Manufacturing PMI is a leading indicator of economic health. A higher than previous figure indicates expansion in the manufacturing sector, which is positive for the overall economy and thus for SPY, which tracks the S&P 500 index. However, as the figure is in line with estimates, the impact may be somewhat muted.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75