US PPI (MoM) (May) -0.2% vs +0.1% Est.
Portfolio Pulse from Benzinga Newsdesk
The US Producer Price Index (PPI) for May decreased by 0.2%, contrary to the expected increase of 0.1%.
June 13, 2024 | 12:30 pm
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NEGATIVE IMPACT
The US PPI for May fell by 0.2%, missing the expected increase of 0.1%. This unexpected decline in producer prices could lead to a short-term negative impact on SPY as it may signal weaker economic conditions.
The decline in PPI suggests weaker producer pricing power, which could be interpreted as a sign of slowing economic activity. This may lead to a negative sentiment in the market, affecting SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80