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home / news releases / RIGZ - Global Automotive Output Contracts Faster In May Amid Uneven Regional Trends

RIGZ - Global Automotive Output Contracts Faster In May Amid Uneven Regional Trends

Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF
  • The S&P Global Sector PMI™ revealed that Automobiles & Auto Parts sector output contracted worldwide for a second successive month amid the sharpest reduction in new orders since the COVID-19 pandemic and renewed supply disruptions linked to the pandemic and Russia-Ukraine war.
  • Leading to the poor Automobiles & Auto Parts sector output performance had also been the weakness in demand recorded in May.
  • It is perhaps with little doubt that uncertainties persist both on the demand and supply side amid a slowdown in global growth expected and with the Ukraine war and mainland China's COVID-19 disruptions persisting.

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Global Automotive Output Contracts Faster In May Amid Uneven Regional Trends
Stock Information
Company Name: Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF
Stock Symbol: RIGZ
Market: NYSE
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