S&P Global US Manufacturing PMI For May 51.3 Vs 50.9 Est.; 50 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for May came in at 51.3, surpassing the estimated 50.9 and the previous month's 50. This indicates an expansion in the manufacturing sector.
June 03, 2024 | 1:48 pm
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The S&P Global US Manufacturing PMI for May exceeded expectations, coming in at 51.3 compared to the estimated 50.9 and the previous month's 50. This positive data suggests an expansion in the manufacturing sector, which could boost investor confidence in the broader market.
The better-than-expected PMI indicates growth in the manufacturing sector, which is a positive economic indicator. This could lead to increased investor confidence and a potential short-term boost in the stock market, positively impacting SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80