S&P Global Composite PMI For August 50.2 Vs 50.4 Est.; 52.0 Prior
Portfolio Pulse from Happy Mohamed
The S&P Global Composite PMI for August was reported at 50.2, slightly below the estimated 50.4 and significantly lower than the prior figure of 52.0.
September 06, 2023 | 1:50 pm
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NEGATIVE IMPACT
The lower-than-expected PMI could potentially impact the SPY ETF, as it indicates a slower growth in the global economy.
The Purchasing Managers' Index (PMI) is a key indicator of economic health. A lower-than-expected PMI suggests slower economic growth, which could negatively impact the stock market and, by extension, the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75