S&P Global US Manufacturing PMI For August 47.9 Vs 47.0 Est.; 49.0 Prior
Portfolio Pulse from Happy Mohamed
The S&P Global US Manufacturing PMI for August was reported at 47.9, slightly above the estimated 47.0 but below the prior figure of 49.0.
September 01, 2023 | 1:48 pm
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NEGATIVE IMPACT
The S&P Global US Manufacturing PMI for August, which is lower than the previous month, could potentially impact the SPY ETF.
The S&P Global US Manufacturing PMI is a key indicator of economic health. A lower PMI than the previous month suggests a slowdown in the manufacturing sector, which could negatively impact the broader market and thus the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75