USA Building Permits (MoM) -2.8% Vs -3.8% Est.; -3.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Building Permits for the month-over-month (MoM) metric decreased by 2.8%, which is better than the estimated decline of 3.8% and the prior decline of 3.0%.
June 26, 2024 | 12:31 pm
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POSITIVE IMPACT
The USA Building Permits (MoM) fell by 2.8%, which is better than the expected -3.8% and the previous -3.0%. This positive economic data could lead to a short-term increase in SPY as it reflects a less severe decline in building activity than anticipated.
The better-than-expected building permits data suggests a less severe decline in building activity, which can be interpreted as a positive economic indicator. This could lead to a short-term increase in SPY as investors react to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80