ISM Non-Manufacturing Employment For January 50.5 Vs 49.4 Est.; 43.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Non-Manufacturing Employment index for January showed an increase to 50.5, surpassing the estimated 49.4 and significantly higher than the previous month's 43.8. This indicates a growth in employment within the non-manufacturing sector.
February 05, 2024 | 3:01 pm
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The increase in the ISM Non-Manufacturing Employment index suggests a strengthening non-manufacturing sector, potentially leading to positive sentiment towards the overall economy and possibly benefiting SPY.
The ISM Non-Manufacturing Employment index is a key economic indicator that reflects the health of the non-manufacturing sector. A reading above 50 indicates expansion, which can lead to increased consumer spending and overall economic growth. This positive economic data is likely to influence investor sentiment positively, potentially leading to gains in broad market ETFs like SPY.
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