US August Building Permits Revised To +6.8%t From +6.9%, Annual Rate To 1.541M Units From 1.543M Units
Portfolio Pulse from Charles Gross
The US Commerce Department has revised August building permits to a 6.8% increase from the previously reported 6.9%. The annual rate has been adjusted to 1.541 million units from 1.543 million units.
September 26, 2023 | 11:36 am
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NEUTRAL IMPACT
The slight downward revision of US building permits may have a minimal impact on SPY as it reflects a broad range of sectors in the US economy.
SPY, as a broad market ETF, is influenced by a wide range of factors. The slight revision in building permits is a minor economic indicator and may not significantly impact SPY.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The downward revision of US building permits may negatively impact XHB, an ETF that tracks the homebuilding sector.
XHB is directly influenced by the homebuilding sector. A decrease in building permits indicates a potential slowdown in the sector, which could negatively impact XHB.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80