USA Retail Inventories Ex Auto For April -0.2% Vs -0.1% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding auto for April decreased by 0.2%, compared to the estimated -0.1% and the prior month's 0.3%.
June 15, 2023 | 2:02 pm
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NEGATIVE IMPACT
USA retail inventories ex auto for April declined by 0.2%, which may have a negative short-term impact on the SPY ETF.
The decline in retail inventories excluding auto for April indicates a potential slowdown in consumer spending, which may negatively affect the overall market and the SPY ETF in the short term. The lower-than-expected figure and the decrease from the prior month's 0.3% may contribute to this negative impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50