US Building Permits (Mar) 1.458M vs 1.514M Est.; Prior 1.523M
Portfolio Pulse from Benzinga Newsdesk
US Building Permits for March reported at 1.458M, falling short of the estimated 1.514M and the previous month's 1.523M.
April 16, 2024 | 12:30 pm
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NEGATIVE IMPACT
The lower-than-expected US Building Permits may lead to a cautious outlook on the construction sector, potentially impacting SPY.
SPY, as a broad market ETF, is sensitive to economic indicators. Lower building permits suggest a slowdown in the construction sector, which can negatively impact the overall market sentiment and thus SPY's performance in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60