ISM Non-Manufacturing PMI For August 54.5 Vs 52.5 Est.; 52.7 Prior
Portfolio Pulse from Happy Mohamed
The ISM Non-Manufacturing PMI for August was reported at 54.5, higher than the estimated 52.5 and the prior figure of 52.7.
September 06, 2023 | 2:00 pm
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POSITIVE IMPACT
The higher-than-expected ISM Non-Manufacturing PMI for August may positively impact the SPY ETF, as it indicates a stronger economy.
The ISM Non-Manufacturing PMI is a key economic indicator. A higher-than-expected figure suggests a stronger economy, which is generally positive for the stock market and ETFs like SPY that track the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75