Real Consumer Spending (Q2) 0.8% vs 1.7% Est.
Portfolio Pulse from Benzinga Newsdesk
Real Consumer Spending for Q2 came in at 0.8%, lower than the estimated 1.7%.
September 28, 2023 | 12:33 pm
News sentiment analysis
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NEGATIVE IMPACT
Lower than expected consumer spending may negatively impact the overall market, potentially affecting SPY.
Consumer spending is a significant component of the economy. Lower than expected spending indicates a potential slowdown in economic activity, which could negatively impact the overall market and ETFs like SPY that track it.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75