Redbook Retail Sales 1.5% YoY
Portfolio Pulse from Benzinga Newsdesk
Redbook reported a 1.5% year-over-year increase in retail sales.
May 23, 2023 | 12:56 pm
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POSITIVE IMPACT
Redbook's 1.5% YoY retail sales growth may have a positive impact on the broader market, as represented by the SPY ETF.
The 1.5% YoY increase in retail sales reported by Redbook indicates a growing economy, which generally has a positive impact on the stock market. As SPY is an ETF that tracks the S&P 500, it is likely to benefit from this growth in retail sales.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50