Building Permits (May) 1.491M vs 1.425M Est.
Portfolio Pulse from Benzinga Newsdesk
The number of building permits issued in May reached 1.491 million, surpassing the estimated 1.425 million.
June 20, 2023 | 12:30 pm
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POSITIVE IMPACT
The higher-than-expected number of building permits in May could positively impact the SPY ETF.
The higher number of building permits indicates a stronger housing market and overall economic growth. This could lead to increased investor confidence and a positive impact on the SPY ETF, which tracks the performance of the S&P 500.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75