Building Permits (MoM) (Aug) 6.9% vs 0.1% Prior
Portfolio Pulse from Bill Haddad
The Building Permits for the month of August have increased by 6.9%, significantly higher than the prior month's 0.1%.
September 19, 2023 | 12:32 pm
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POSITIVE IMPACT
The significant increase in Building Permits could indicate a strengthening economy, which may positively impact the SPY ETF.
Building Permits are a key indicator of demand in the housing market, which is a significant component of the economy. A rise in Building Permits suggests increased construction activity, which can stimulate economic growth. This growth can positively impact the SPY ETF, which tracks the performance of the S&P 500 and is therefore influenced by the overall health of the US economy.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75