Dallas Fed Mfg Business Index For May -19.4 Vs -14.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The Dallas Federal Reserve's Manufacturing Business Index for May dropped to -19.4 from -14.5 in the previous month, indicating a further contraction in manufacturing activity.
May 28, 2024 | 2:30 pm
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The Dallas Fed's Manufacturing Business Index for May fell to -19.4 from -14.5, indicating a deeper contraction in manufacturing activity. This negative economic data could put downward pressure on the SPY ETF, which tracks the S&P 500.
The decline in the Dallas Fed's Manufacturing Business Index suggests worsening conditions in the manufacturing sector, which could negatively impact investor sentiment and lead to a short-term decline in the SPY ETF.
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