Philadelphia Fed Non-Manufacturing Regional Business Activity Index -20.3 In Oct Vs -16.6 In Sept
Portfolio Pulse from Benzinga Newsdesk
The Philadelphia Fed Non-Manufacturing Regional Business Activity Index has dropped to -20.3 in October from -16.6 in September.
October 24, 2023 | 12:37 pm
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NEGATIVE IMPACT
The drop in the Philadelphia Fed Non-Manufacturing Regional Business Activity Index may negatively impact the SPY ETF, as it indicates a slowdown in business activity.
The Philadelphia Fed Non-Manufacturing Regional Business Activity Index is a measure of the economic health of the non-manufacturing sector in the Philadelphia Fed region. A drop in the index indicates a slowdown in business activity, which could negatively impact the overall market and, by extension, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75