USA Factory Orders (MoM) For July -2.1% Vs -2.5% Est.; 2.3% Prior
Portfolio Pulse from Happy Mohamed
USA Factory Orders for July have decreased by 2.1%, which is less than the estimated decrease of 2.5%. The previous month's factory orders had increased by 2.3%.
September 05, 2023 | 2:00 pm
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NEGATIVE IMPACT
The decrease in factory orders, although less than estimated, may have a negative impact on the overall market, potentially affecting SPY.
Factory orders are a key indicator of economic health. A decrease in factory orders suggests a potential slowdown in the manufacturing sector, which could negatively impact the overall market and, by extension, ETFs like SPY that track the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75