USA ISM Manufacturing PMI For October 46.7 Vs 49 Est.
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing PMI for October came in at 46.7, lower than the estimated 49. This indicates a contraction in the manufacturing sector.
November 01, 2023 | 2:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected ISM Manufacturing PMI may negatively impact the SPY ETF, as it indicates a contraction in the manufacturing sector.
The ISM Manufacturing PMI is a key indicator of the health of the manufacturing sector. A lower than expected figure indicates a contraction in the sector, which could lead to a decrease in the value of the SPY ETF, which tracks the S&P 500 and is heavily influenced by the performance of the manufacturing sector.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80