Philadelphia Fed Manufacturing Index (May) 4.5 vs 7.7 Est.
Portfolio Pulse from Benzinga Newsdesk
The Philadelphia Fed Manufacturing Index for May came in at 4.5, below the estimated 7.7. This indicates a slower pace of growth in the manufacturing sector than expected.
May 16, 2024 | 12:30 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The Philadelphia Fed Manufacturing Index for May came in at 4.5, below the estimated 7.7. This could indicate slower economic growth, potentially impacting the broader market and SPY.
The Philadelphia Fed Manufacturing Index is a key economic indicator. A lower-than-expected reading suggests slower growth in the manufacturing sector, which could negatively impact investor sentiment and the broader market, including SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80