USA ISM Manufacturing PMI For September 49.0 Vs 47.7 Est.; 47.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing PMI for September was reported at 49.0, higher than the estimated 47.7 and the prior figure of 47.6.
October 02, 2023 | 2:00 pm
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POSITIVE IMPACT
The higher than expected ISM Manufacturing PMI could potentially boost investor sentiment and have a positive impact on the SPY ETF.
The ISM Manufacturing PMI is a key indicator of economic health. A higher than expected figure suggests that the manufacturing sector is performing better than anticipated, which could boost investor sentiment and lead to an increase in the price of the SPY ETF, which tracks the S&P 500 and is a broad measure of the US stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75