ISM Manufacturing New Orders Index For August 44.6 Vs 47.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing New Orders Index for August decreased to 44.6 from 47.4 in the previous month, indicating a contraction in new manufacturing orders.
September 03, 2024 | 2:00 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The decrease in the ISM Manufacturing New Orders Index to 44.6 suggests a contraction in manufacturing activity, which could negatively impact the broader market sentiment and SPY, an ETF that tracks the S&P 500.
The ISM Manufacturing New Orders Index is a key economic indicator. A drop to 44.6 suggests a contraction in manufacturing, which can lead to negative market sentiment. SPY, representing the S&P 500, may be impacted as it reflects the broader market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50