New data S&P Global Composite PMI (Aug)
9/5/2024
actual 54.6, previous 54.3
The S&P Global Composite PMI (Purchasing Managers' Index) for August is a key economic indicator that provides insight into the health of the US economy. A PMI above 50 indicates economic expansion, while a PMI below 50 suggests contraction.In this event, the actual S&P Global Composite PMI for August is 54.6, which is higher than both the previous month's value of 54.3 and the market estimate of 54.1. This indicates that economic activity in the US, as measured by the PMI, has increased slightly from the previous month and has exceeded market expectations.
The impact of this event is considered medium, as it provides valuable information to investors, policymakers, and analysts about the current state of the US economy. A higher-than-expected PMI value like this one can potentially have a positive effect on the US dollar and stock markets, as it suggests growth and expansion in the economy.
This is not investment advice. Remember to verify the information provided here.
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