USA Construction Spending (MoM) For May 0.9% Vs 0.5% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Construction Spending for May increased by 0.9%, surpassing the estimated 0.5% and the prior 0.4%.
July 03, 2023 | 2:01 pm
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POSITIVE IMPACT
The increase in construction spending could potentially boost the overall economy, which may positively impact SPY.
Construction spending is a key economic indicator. An increase in construction spending suggests a healthy economy, which could lead to a rise in the stock market, potentially benefiting SPY.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50