July Building Permits 1.442M vs 1.463M Est.
Portfolio Pulse from Benzinga Newsdesk
The number of building permits issued in July was 1.442 million, lower than the estimated 1.463 million.
August 16, 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. A lower than expected number could indicate a slowdown in the housing market, which could have a negative impact on the broader market. As SPY tracks the broader market, it could be negatively impacted.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75