Core Retail Sales (MoM) (Jun) 0.2% vs 0.3% Est.
Portfolio Pulse from Bill Haddad
Core Retail Sales for June came in at 0.2%, slightly below the estimated 0.3%.
July 18, 2023 | 12:30 pm
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NEGATIVE IMPACT
The lower than expected Core Retail Sales may have a negative impact on SPY as it indicates a slower economic growth.
Core Retail Sales is a key economic indicator that reflects the overall consumer spending, which is a major component of economic growth. A lower than expected figure suggests slower economic growth, which could negatively impact the broader market, represented by SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75