USA Manufacturing Production (MoM) For January -0.5% Vs 0.0% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Manufacturing Production for January decreased by 0.5%, which was below the estimated 0.0% and the previous month's 0.1%.
February 15, 2024 | 2:16 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may be impacted by the lower than expected USA Manufacturing Production, as it reflects broader economic activity.
Manufacturing production is a significant indicator of economic health. A decrease below expectations can signal a slowing economy, which may lead to decreased investor confidence and potentially lower stock prices, including those within the S&P 500, which SPY tracks.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80