USA Business Inventories (MoM) For June 0.0% Vs 0.1% Est.; 0.2% Prior
Portfolio Pulse from Happy Mohamed
USA Business Inventories for June remained flat at 0.0%, missing the estimated 0.1% and lower than the 0.2% reported in the prior month.
August 15, 2023 | 2:00 pm
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NEGATIVE IMPACT
The flat business inventories data for June, which missed estimates, could potentially impact the broader market, represented by SPY.
Business inventories are a key economic indicator, reflecting the amount of goods available for sale. A lower than expected figure suggests a potential slowdown in economic activity, which could negatively impact the broader market, represented by SPY.
CONFIDENCE 80
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