Philadelphia Fed Non-Manufacturing New Orders Index -16.1 In Oct Vs -9.2 In Sept
Portfolio Pulse from Benzinga Newsdesk
The Philadelphia Fed Non-Manufacturing New Orders Index has dropped to -16.1 in October from -9.2 in September, indicating a decrease in new orders for non-manufacturing businesses.
October 24, 2023 | 12:38 pm
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The decrease in the Philadelphia Fed Non-Manufacturing New Orders Index may negatively impact the SPY ETF, as it indicates a slowdown in the non-manufacturing sector.
The Philadelphia Fed Non-Manufacturing New Orders Index is a measure of new orders for non-manufacturing businesses. A decrease in this index indicates a slowdown in the non-manufacturing sector, which could negatively impact the SPY ETF, as it is a broad-based ETF that includes non-manufacturing companies.
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