USA Durable Goods Orders (MoM) For July -5.2% Vs -4.0% Est.; 4.4% Prior
Portfolio Pulse from Happy Mohamed
USA Durable Goods Orders for July have decreased by 5.2%, which is more than the estimated decrease of 4.0%. The prior figure was a 4.7% increase.
August 24, 2023 | 12:30 pm
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NEGATIVE IMPACT
The larger than expected decrease in Durable Goods Orders may negatively impact the SPY ETF, as it suggests a potential slowdown in the economy.
Durable Goods Orders are a key indicator of economic health. A larger than expected decrease suggests a potential slowdown in the economy, which could negatively impact the stock market and, by extension, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75