USA Retail Sales (YoY) For July 3.17% Vs 1.50% Est.; 1.59% Prior
Portfolio Pulse from Happy Mohamed
USA retail sales for July have exceeded estimates, coming in at 3.17% year-on-year, compared to the 1.50% estimate and 1.49% prior.
August 15, 2023 | 12:31 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) could be positively impacted by the higher than expected retail sales, as it suggests a stronger economy and consumer spending.
Retail sales are a significant indicator of consumer spending, which accounts for a large portion of the economy. Higher than expected retail sales suggest a stronger economy, which could lead to a positive impact on the SPY ETF, as it tracks a broad range of sectors in the economy.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75