USA Housing Starts For August 1.283M Vs 1.440M Est.; 1.447M Prior
Portfolio Pulse from Benzinga Newsdesk
USA housing starts for August were reported at 1.283M, significantly lower than the estimated 1.440M and the prior figure of 1.452M.
September 19, 2023 | 12:31 pm
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NEGATIVE IMPACT
The lower than expected housing starts could potentially impact the SPY ETF, which tracks the S&P 500 index and is sensitive to macroeconomic indicators.
Housing starts are a key economic indicator, reflecting the health of the economy. A lower than expected figure suggests a potential slowdown, which could negatively impact the broader market and thus the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75