S&P Global Composite PMI For August 50.4 Vs 52.0 Est.; 52.0 Prior
Portfolio Pulse from Happy Mohamed
The S&P Global Composite PMI for August was reported at 50.4, lower than the estimated 52.0 and the prior figure of 52.0.
August 23, 2023 | 1:49 pm
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NEGATIVE IMPACT
The lower-than-expected PMI could negatively impact the SPY ETF, as it indicates a slowdown in global economic activity.
The S&P Global Composite PMI is a leading indicator of economic health. A lower-than-expected figure suggests a slowdown in global economic activity, which could lead to a decrease in the value of the SPY ETF, which tracks the S&P 500 Index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80