USA Housing Starts For May 1.631M Vs 1.400M Est.; 1.340M Prior
Portfolio Pulse from Happy Mohamed
USA housing starts for May reached 1.631 million, significantly higher than the estimated 1.400 million and the prior figure of 1.340 million.
June 20, 2023 | 12:30 pm
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POSITIVE IMPACT
The higher-than-expected housing starts in May could positively impact the SPY ETF, reflecting the overall strength of the US economy.
The higher housing starts indicate a strong demand for housing, which is a key driver of economic growth. This could lead to increased investor confidence in the US economy, positively impacting the SPY ETF, which tracks the performance of the S&P 500 index.
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IMPORTANCE 60
RELEVANCE 50