Building Permits (Sep) 1.473M vs 1.455M Est.
Portfolio Pulse from Benzinga Newsdesk
The number of building permits issued in September was 1.473 million, higher than the estimated 1.455 million.
October 18, 2023 | 12:30 pm
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POSITIVE IMPACT
The higher than expected number of building permits could indicate a healthy real estate market, which may positively impact the SPY ETF.
Building permits are a leading indicator of future construction activity, which is a significant component of the economy. A higher than expected number suggests a healthy real estate market, which could positively impact the broader market and the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75