USA Construction Spending (MoM) For June 0.5% Vs 0.6% Est.; 1.1% Prior
Portfolio Pulse from Happy Mohamed
USA Construction Spending for June was reported at 0.5%, slightly below the estimated 0.6% and lower than the prior month's 1.1%.
August 04, 2023 | 9:05 am
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NEGATIVE IMPACT
The lower than expected construction spending could potentially impact the SPY ETF, as it reflects the overall performance of the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US economy. Lower than expected construction spending indicates a potential slowdown in the economy, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75