Building Permits For April -3%
Portfolio Pulse from Benzinga Newsdesk
Building permits for April decreased by 3%, indicating a potential slowdown in the construction sector.
May 16, 2024 | 12:30 pm
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The decrease in building permits for April by 3% could negatively impact the SPDR S&P 500 ETF (SPY) as it signals a potential slowdown in the construction sector, which is a significant component of the economy.
A decrease in building permits suggests a slowdown in the construction sector, which can have a broader economic impact. As SPY tracks the S&P 500, a key economic indicator like this can influence its performance.
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