USA Personal Spending (MoM) For June 0.5% Vs 0.4% Est.; 0.2% Prior
Portfolio Pulse from Happy Mohamed
USA personal spending for June increased by 0.5%, beating the estimated 0.4% and the prior 0.2%.
July 28, 2023 | 12:34 pm
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POSITIVE IMPACT
The increase in personal spending could potentially boost the economy, which may positively impact the SPY ETF.
Personal spending is a significant component of the economy. An increase in spending indicates consumer confidence and can stimulate economic growth. This growth can positively impact the stock market, and therefore the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75