US Capacity Utilization Rate For May 78.7% Vs 78.6% Est; 78.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The US capacity utilization rate for May was reported at 78.7%, slightly above the estimated 78.6% and higher than the prior month's 78.2%.
June 18, 2024 | 1:19 pm
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POSITIVE IMPACT
The US capacity utilization rate for May was reported at 78.7%, slightly above the estimated 78.6% and higher than the prior month's 78.2%. This positive economic indicator could boost investor confidence in the broader market, potentially benefiting SPY.
The capacity utilization rate is a key economic indicator. A higher-than-expected rate suggests stronger economic activity, which can positively impact the broader market. SPY, being an ETF that tracks the S&P 500, is likely to benefit from this positive sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50