USA ISM Manufacturing Employment For June 49.3 Vs 50.0 Est.; 51.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Employment Index for June came in at 49.3, below the estimated 50.0 and the prior 51.1. This indicates a contraction in manufacturing employment.
July 01, 2024 | 2:00 pm
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NEGATIVE IMPACT
The USA ISM Manufacturing Employment Index for June fell to 49.3, below expectations and the previous month. This contraction in manufacturing employment could signal broader economic concerns, potentially impacting the SPY ETF.
The ISM Manufacturing Employment Index is a key economic indicator. A reading below 50 suggests contraction, which could lead to concerns about economic growth and impact the SPY ETF negatively in the short term.
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