USA Construction Spending (MoM) For June -0.3% Vs 0.2% Est.; -0.4% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
USA Construction Spending for June decreased by 0.3%, missing the estimated increase of 0.2% and showing a slight improvement from the revised prior figure of -0.4%.
August 01, 2024 | 2:00 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in USA Construction Spending for June, which fell by 0.3% against an estimated increase of 0.2%.
The decline in construction spending could signal broader economic weakness, potentially affecting the overall market sentiment and leading to short-term volatility in SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50