USA Redbook (YoY) 2.9% Vs 0.7% Prior
Portfolio Pulse from Happy Mohamed
The USA Redbook Year-over-Year (YoY) has reported a 2.9% increase, significantly higher than the previous 0.7%.
August 22, 2023 | 12:56 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by the higher than expected USA Redbook YoY increase.
The USA Redbook is a measure of comparable store sales at chain stores, discounters, and department stores. It is an indicator of consumer spending which makes up the majority of economic activity. A higher than expected increase suggests a stronger economy, which is generally positive for the stock market and thus for the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75