USA Building Permits For November 1.460M Vs 1.470M Est.; 1.498M Prior
Portfolio Pulse from Benzinga Newsdesk
USA Building Permits for November were reported at 1.460M, slightly below the estimate of 1.470M and lower than the prior figure of 1.498M.
December 19, 2023 | 1:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience a slight negative impact due to lower than expected building permits, indicating a potential slowdown in the housing sector.
Building permits are a leading indicator of economic health, particularly in the housing sector. A lower than expected number suggests a potential slowdown, which can negatively affect market sentiment and thus impact the broader indices, including SPY.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70