S&P Global US Manufacturing PMI For May 50.9 Vs 50.0 Est.; 50.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for May came in at 50.9, surpassing the estimated 50.0 and the prior 50.0. This indicates a slight expansion in the manufacturing sector.
May 23, 2024 | 1:45 pm
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The S&P Global US Manufacturing PMI for May came in at 50.9, surpassing the estimated 50.0 and the prior 50.0. This indicates a slight expansion in the manufacturing sector, which could positively impact the SPDR S&P 500 ETF (SPY) as it reflects overall economic health.
The better-than-expected PMI suggests a slight expansion in the manufacturing sector, which is a positive indicator for the overall economy. This could lead to a short-term positive impact on SPY as it reflects the performance of the S&P 500 index.
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