USA Retail Inventories Ex Auto For July 0.1% Vs 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding autos for July have been reported at 0.1%, lower than the previous month's 0.3%.
August 30, 2023 | 12:30 pm
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The lower retail inventories could indicate a slowdown in consumer spending, which may impact the broader market tracked by SPY.
Retail inventories are a key economic indicator. A decrease could suggest a slowdown in consumer spending, which drives the majority of the US economy. This could negatively impact the broader market, and thus the SPY ETF which tracks it.
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