S&P Global US Manufacturing PMI For October 47.8 Vs 47.5 Est.; 47.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for October was reported at 47.8, slightly above the estimated 47.5 and the prior month's 47.3. This indicates a slight improvement in the manufacturing sector, though it remains in contraction territory.
October 24, 2024 | 1:47 pm
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The S&P Global US Manufacturing PMI for October was slightly better than expected, which may provide a minor positive sentiment for the SPY ETF, as it reflects a slight improvement in the manufacturing sector.
The SPY ETF, which tracks the S&P 500, could see a slight positive impact as the better-than-expected PMI suggests a marginal improvement in the manufacturing sector, potentially boosting investor sentiment.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50