USA Industrial Production (MoM) For September -0.3% Vs -0.1% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's industrial production for September decreased by 0.3%, which is worse than the expected decrease of 0.1% and a reversal from the 0.3% increase in the prior month.
October 17, 2024 | 1:16 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in US industrial production, which could signal broader economic challenges.
The decline in industrial production suggests potential economic slowdown, which can negatively impact the broader market indices like the S&P 500. SPY, being an ETF that tracks the S&P 500, may see a negative impact as investors react to this economic data.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50