USA Redbook (YoY) 0.7% Vs 0.3% Prior
Portfolio Pulse from Happy Mohamed
The USA Redbook Year-over-Year (YoY) has increased to 0.7% from the previous 0.3%.
August 15, 2023 | 12:56 pm
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POSITIVE IMPACT
The increase in USA Redbook YoY may have a positive impact on SPY as it indicates an improving economy.
The USA Redbook is a measure of comparable store sales at chain stores, discounters, and department stores. It is an indicator of the performance of the broader retail sector in the US. An increase in the Redbook YoY indicates an improving economy, which could lead to a rise in the SPY ETF, which tracks the S&P 500 and is a good representation of the US stock market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75