White House Says Advance Estimate Of GDP For Q2 Showed U.S. Economy Is Expanding At Strong And Better-Than-Expected Clip
Portfolio Pulse from Happy Mohamed
The White House has announced that the advance estimate of GDP for Q2 indicates that the U.S. economy is expanding at a strong and better-than-expected rate.
July 27, 2023 | 2:36 pm
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POSITIVE IMPACT
The strong and better-than-expected GDP growth for Q2 could potentially boost the performance of SPY, an ETF that tracks the S&P 500 index, which is a broad representation of the U.S. economy.
The SPY ETF tracks the S&P 500 index, which is a broad representation of the U.S. economy. Therefore, strong and better-than-expected GDP growth for Q2, which indicates a robust U.S. economy, could potentially boost the performance of SPY in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75