USA Construction Spending (MoM) For July 0.7% Vs 0.5% Est.; 0.6% Prior
Portfolio Pulse from Happy Mohamed
USA Construction Spending for July increased by 0.7%, beating the estimated 0.5% and the prior month's 0.5%.
September 01, 2023 | 2:01 pm
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POSITIVE IMPACT
The increase in construction spending could potentially boost the overall economy, which may positively impact SPY.
Construction spending is a key economic indicator. An increase in construction spending suggests a healthy economy, which could lead to a rise in the stock market, potentially benefiting SPY, an ETF that tracks the S&P 500.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50