USA ISM Manufacturing Prices For July 52.9 Vs 51.9 Est.; 52.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Prices for July came in at 52.9, higher than the estimated 51.9 and the prior 52.1. This indicates an increase in manufacturing prices, which could impact inflation expectations and market sentiment.
August 01, 2024 | 2:00 pm
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The increase in ISM Manufacturing Prices for July to 52.9, higher than both the estimate and prior figures, suggests rising manufacturing costs. This could lead to inflationary pressures, potentially affecting the broader market and SPY.
The ISM Manufacturing Prices index is a key indicator of inflationary pressures in the manufacturing sector. A higher-than-expected reading suggests rising costs, which could influence inflation expectations and market sentiment. SPY, as an ETF that tracks the S&P 500, could be impacted by these broader market dynamics.
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