Real Consumer Spending (Q1) 3.8% vs 3.7% Est.
Portfolio Pulse from Benzinga Newsdesk
Real Consumer Spending in Q1 increased by 3.8%, slightly higher than the estimated 3.7%.
May 25, 2023 | 12:35 pm
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POSITIVE IMPACT
Real Consumer Spending in Q1 increased by 3.8%, which may have a positive impact on the overall market, as represented by the SPY ETF.
Higher consumer spending indicates a healthy economy, which can lead to increased corporate revenues and potentially higher stock prices. As SPY is an ETF that tracks the overall market, it may benefit from this positive economic data.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50