Philadelphia Fed Manufacturing Index (Jun) 1.3 vs 4.8 Est.
Portfolio Pulse from Benzinga Newsdesk
The Philadelphia Fed Manufacturing Index for June came in at 1.3, significantly below the estimated 4.8. This indicates a slower pace of growth in the manufacturing sector.
June 20, 2024 | 12:30 pm
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The Philadelphia Fed Manufacturing Index for June was reported at 1.3, below the expected 4.8. This could signal slower economic growth, potentially impacting the broader market and SPY.
The lower-than-expected Philadelphia Fed Manufacturing Index suggests slower growth in the manufacturing sector, which could lead to concerns about the overall economic outlook. This may result in short-term negative sentiment for the broader market, including SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80