CNBC
23 Jun 2026, 14:49 UTC · 2h ago
Factory job cuts in June neared financial crisis and Covid levels, S&P says
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
CNBC
23 Jun 2026, 14:49 UTC · 2h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
What the story claims
5 claims · each scored for market impact
U.S. factory job cuts have reached their highest levels since 2009, excluding the 2020 pandemic period. — Severe labor reductions in manufacturing signal deep concerns regarding global demand and the long-term health of the industrial economy.
-0.80Current survey data suggests the economy may struggle to grow faster than a 1% annualized rate in the second quarter. — Low GDP growth projections indicate economic stagnation, which typically reduces corporate earnings expectations and risk appetite.
-0.50The S&P Global manufacturing PMI rose to 55.7, exceeding the consensus estimate of 54.8. — A reading above 50 indicates expansion, though the impact is tempered by the fact that growth is attributed to temporary inventory rebuilding.
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S&P Global reports that manufacturing growth is being temporarily buoyed by inventory building amid widespread supply delays. — Inventory-driven growth is lower quality than demand-driven growth and suggests future pull-backs once stocks are replenished.
-0.30The services sector flash PMI came in at 51.3, slightly beating the consensus forecast of 51. — Marginal growth in services provides a slight floor to the economy, though the modest beat suggests tepid momentum.
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