US Industrial Production YoY For May 0.40%; -0.38% Prior
Portfolio Pulse from Benzinga Newsdesk
US Industrial Production Year-over-Year (YoY) for May increased by 0.40%, compared to a decline of 0.38% in the previous period.
June 18, 2024 | 1:22 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The increase in US Industrial Production YoY for May to 0.40% from -0.38% previously is a positive indicator for the overall economy, which could positively impact the SPY ETF.
The rise in industrial production suggests economic growth, which is generally positive for broad market ETFs like SPY. This could lead to increased investor confidence and higher stock prices in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50