ISM Manufacturing PMI For June 48.5 Vs 49.2 Est.; 48.7 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing PMI for June came in at 48.5, below the estimated 49.2 and the prior 48.7, indicating a contraction in the manufacturing sector.
July 01, 2024 | 2:00 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The ISM Manufacturing PMI for June came in at 48.5, below the estimated 49.2 and the prior 48.7. This indicates a contraction in the manufacturing sector, which could negatively impact the broader market sentiment.
The ISM Manufacturing PMI is a key economic indicator. A reading below 50 indicates contraction, which can negatively impact market sentiment and potentially lead to a decline in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80