USA Housing Starts (MoM) For August -11.3% Vs 2.0% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Housing Starts for August have decreased by 11.3% compared to the previous month, which had seen a 2.0% increase.
September 19, 2023 | 12:30 pm
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NEGATIVE IMPACT
The decrease in housing starts may negatively impact the SPY ETF, as it could indicate a slowing economy.
Housing starts are a key economic indicator. A decrease suggests a potential economic slowdown, which could negatively impact the broader market and thus the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75