U.S. Durables Excluding Defense (MoM) For August -0.7%; -6% prior
Portfolio Pulse from Benzinga Newsdesk
The U.S. Durable Goods Excluding Defense for August has decreased by 0.7%, compared to a 6% decrease in the prior month.
September 27, 2023 | 12:31 pm
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The decrease in U.S. Durable Goods Excluding Defense for August may impact the SPY ETF, as it reflects the overall health of the U.S. economy.
Durable goods orders are a key indicator of future manufacturing activity. A decrease in this figure suggests a potential slowdown in the U.S. economy, which could negatively impact the SPY ETF, as it tracks the performance of the S&P 500 and is therefore sensitive to overall economic conditions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75