USA Retail Sales (MoM) For May 0.3% Vs -0.1% Est.; 0.4% Prior
Portfolio Pulse from Happy Mohamed
USA retail sales for May increased by 0.3% month-over-month, beating the estimated -0.1% and higher than the prior 0.4%.
June 15, 2023 | 12:30 pm
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POSITIVE IMPACT
USA retail sales growth in May could positively impact the SPY ETF, as it indicates a stronger economy and consumer spending.
The increase in retail sales for May suggests a stronger economy and higher consumer spending, which could lead to a positive impact on the SPY ETF. The ETF tracks the performance of the S&P 500, and a stronger economy generally leads to better stock market performance. The relevance is 50 as SPY is mentioned passively, and the importance is 60 as it's a significant economic indicator. Confidence is 80 as the data is clear and the connection between retail sales and stock market performance is well-established.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50