USA Capacity Utilization Rate For June 78.8% Vs 78.5% Est.; 78.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Capacity Utilization Rate for June was reported at 78.8%, higher than the estimated 78.5% and the prior month's 78.3%.
July 17, 2024 | 1:16 pm
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POSITIVE IMPACT
The USA Capacity Utilization Rate for June was reported at 78.8%, higher than the estimated 78.5% and the prior month's 78.3%. This indicates a stronger-than-expected economic activity, which could positively impact the SPY ETF.
A higher-than-expected capacity utilization rate suggests stronger economic activity, which is generally positive for broad market ETFs like SPY. This could lead to increased investor confidence and potentially higher stock prices in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80