Chicago PMI For August 48.7 Vs 44.1 Est.; 42.8 Prior
Portfolio Pulse from Happy Mohamed
The Chicago PMI for August was reported at 48.7, higher than the estimated 44.1 and the prior month's 42.8.
August 31, 2023 | 1:45 pm
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POSITIVE IMPACT
The higher-than-expected Chicago PMI could potentially influence the SPY ETF, as it reflects an improvement in the manufacturing sector.
The Chicago PMI is a key indicator of the health of the manufacturing sector in the US Midwest. A higher-than-expected PMI indicates an improvement in the sector, which could potentially lead to a positive impact on the SPY ETF, as it is a broad-based representation of the US stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75