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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NEGATIVE IMPACT
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