ISM Manufacturing PMI For August 47.2 Vs 47.5 Est.; 46.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing PMI for August was reported at 47.2, slightly below the estimated 47.5 and above the prior 46.8. This indicates a contraction in the manufacturing sector, which could impact market sentiment.
September 03, 2024 | 2:00 pm
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The ISM Manufacturing PMI for August was reported at 47.2, below the expected 47.5, indicating a contraction in the manufacturing sector. This could negatively impact SPY as it reflects broader economic conditions.
The ISM Manufacturing PMI is a key economic indicator. A reading below expectations suggests economic weakness, which can lead to negative sentiment in the stock market, potentially impacting SPY.
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