U.S. Manufacturing Production MoM 0.1% Vs 0.1% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. manufacturing production has shown a month-on-month growth of 0.1%, which is in line with estimates but lower than the previous month's growth of 0.4%.
September 15, 2023 | 1:21 pm
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NEGATIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by the slower growth in U.S. manufacturing production as it could indicate a slowing economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the U.S. economy. A slowdown in manufacturing production growth could be a sign of a slowing economy, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75