USA Building Permits For June 1.440M Vs 1.490M Est.; 1.496M Prior
Portfolio Pulse from Happy Mohamed
The number of building permits issued in the USA for June was 1.440 million, lower than the estimated 1.490 million and the prior figure of 1.496 million.
July 19, 2023 | 12:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected number of building permits could indicate a slowdown in the housing market, which may negatively impact the broader market tracked by SPY.
Building permits are a leading indicator of future construction activity, including residential, commercial, and industrial sectors. A lower than expected number could indicate a slowdown in the housing market, which could have a ripple effect on related industries and the broader economy. As SPY tracks the broader market, it could be negatively impacted by this news.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75