Philadelphia Fed Non-Manufacturing Firm-Level Business Activity Index -4.9 In Oct Vs -5.5 In Sept
Portfolio Pulse from Benzinga Newsdesk
The Philadelphia Fed Non-Manufacturing Firm-Level Business Activity Index has improved slightly to -4.9 in October from -5.5 in September.
October 24, 2023 | 12:37 pm
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NEUTRAL IMPACT
The slight improvement in the Philadelphia Fed Non-Manufacturing Business Activity Index may have a neutral impact on SPY as it indicates a marginal improvement in business conditions.
The Philadelphia Fed Non-Manufacturing Business Activity Index is a measure of the economic health of the non-manufacturing sector. A slight improvement in the index indicates a marginal improvement in business conditions, which may not significantly impact the performance of SPY, an ETF that tracks the S&P 500 index.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50