The largest ETF by market cap in this sector is the SPDR Industrial Select Sector ETF (XLI), which has posted a year-to-date return of 8.0%. The sector has seen some sell-offs in the last month, losing 2.1% of its value as risk aversion due to geopolitical events dominated markets. This sector comprises big names in manufacturing such as General Electric (GE), 3M (MMM), Boeing (BA), Lockheed Martin (LMT), and United Parcel Service (UPS).
While the sector has witnessed some volatility, production planning has remained constant, indicating that the recent disturbance may not have impacted production plans, at least not in July. In the next part of this series, we’ll analyze how average weekly initial claims have affected the LEI.
View more information: https://marketrealist.com/2017/08/what-workers-average-weekly-hours-say-about-manufacturing/