Durables Excluding Defense (MoM) For June 6.0% Vs 6.2% Prior
Portfolio Pulse from Happy Mohamed
The Durables Excluding Defense (MoM) for June was reported at 6.0%, slightly lower than the prior figure of 6.2%.
August 04, 2023 | 1:53 pm
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NEGATIVE IMPACT
The slight decrease in Durables Excluding Defense (MoM) for June may have a minor impact on SPY, as it indicates a slight slowdown in economic activity.
The Durables Excluding Defense (MoM) is an economic indicator that measures the change in the total value of new orders for long lasting manufactured goods, excluding defense. A decrease in this figure indicates a slowdown in economic activity, which could potentially impact the performance of SPY, an ETF that tracks the S&P 500 and is therefore sensitive to overall economic conditions.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50