USA Building Permits (MoM) For January -1.5% Vs 1.3% Est.; 1.8% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Building Permits for January decreased by 1.5%, missing the estimated 1.3% increase and showing a decline from the previous 1.8% growth.
February 16, 2024 | 1:32 pm
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The decrease in building permits may signal a slowdown in the housing market, potentially impacting the SPY as it reflects the broader market sentiment.
Building permits are a leading indicator of economic health, particularly in the housing sector. A decrease suggests a potential slowdown in construction and housing, which can negatively impact investor sentiment and the broader market, as reflected in SPY.
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