USA Housing Starts For June 1.434M Vs 1.480M Est.; 1.559M Prior
Portfolio Pulse from Benzinga Newsdesk
USA Housing Starts for June were reported at 1.434M, lower than the estimated 1.480M and the prior figure of 1.559M.
July 19, 2023 | 12:31 pm
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NEGATIVE IMPACT
The lower than expected USA Housing Starts for June may negatively impact the SPY ETF, which tracks the S&P 500 index.
Housing starts are a key economic indicator. A lower than expected figure suggests a slowdown in the housing market, which can negatively impact the broader economy and thus the S&P 500 index that SPY tracks.
CONFIDENCE 70
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RELEVANCE 50