U.S. July Building Permits Revised To -3.3% From -4.0%, Annual Rate To 1.406M Units From 1.396M Units
Portfolio Pulse from Benzinga Newsdesk
The U.S. July building permits data has been revised, showing a smaller decline of -3.3% compared to the previously reported -4.0%. The annual rate has been adjusted to 1.406 million units from 1.396 million units.
August 23, 2024 | 12:27 pm
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The revision in U.S. July building permits data to a smaller decline may positively impact the SPY ETF, as it suggests a slightly stronger housing market than initially reported.
The SPY ETF, which tracks the S&P 500, could be positively influenced by the revised building permits data. A smaller decline suggests a more robust housing market, which can boost investor confidence and potentially lead to a rise in stock prices.
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