ISM Non-Manufacturing PMI For October 51.8 Vs 53 Est.; 53.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Non-Manufacturing PMI for October came in at 51.8, lower than the estimated 53 and the prior figure of 53.6.
November 03, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower than expected ISM Non-Manufacturing PMI may negatively impact the SPY ETF, as it indicates a slower growth in the non-manufacturing sector.
The ISM Non-Manufacturing PMI is a key indicator of the health of the non-manufacturing sector. A lower than expected figure suggests slower growth in this sector, which could negatively impact the broader market and, by extension, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75