USA Construction Spending (MoM) For August 0.5% Vs 0.5% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Construction Spending for August was reported at 0.5%, in line with estimates, but lower than the 0.9% reported in the prior month.
October 02, 2023 | 2:01 pm
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NEUTRAL IMPACT
The reported construction spending, which is in line with estimates but lower than the prior month, may have a neutral to slightly negative impact on SPY.
Construction spending is a key economic indicator that can influence the overall market sentiment. While the spending is in line with estimates, indicating stability, it is lower than the prior month, which could suggest a slowdown in the construction sector. This could have a neutral to slightly negative impact on SPY, which is a broad market ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50