Richmond Manufacturing Index For June -10 Vs -3 Expected; 0 Prior
Portfolio Pulse from Benzinga Newsdesk
The Richmond Manufacturing Index for June came in at -10, significantly below the expected -3 and the prior reading of 0. This indicates a notable contraction in manufacturing activity in the Richmond area.
June 25, 2024 | 1:59 pm
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The Richmond Manufacturing Index for June fell to -10, much lower than the expected -3 and the previous reading of 0. This suggests a significant contraction in manufacturing activity, which could negatively impact the broader market sentiment.
The Richmond Manufacturing Index is a key indicator of manufacturing activity. A significant drop to -10 from an expected -3 and prior 0 suggests a contraction, which could lead to negative sentiment in the broader market, affecting SPY.
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