USA ISM Manufacturing PMI For July 46.8 Vs 48.8 Est.; 48.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing PMI for July came in at 46.8, significantly below the estimated 48.8 and the prior 48.5. This indicates a contraction in the manufacturing sector.
August 01, 2024 | 2:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The USA ISM Manufacturing PMI for July came in at 46.8, below the estimated 48.8 and the prior 48.5. This indicates a contraction in the manufacturing sector, which could negatively impact the broader market represented by SPY.
The ISM Manufacturing PMI is a key economic indicator. A reading below 50 indicates contraction, and the significant miss from estimates suggests potential negative sentiment in the market, likely affecting SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80