USA Redbook (YoY) 3.5% Vs 3.8% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook Year-over-Year (YoY) has reported a 3.5% increase, which is slightly lower than the previous 3.8%.
October 03, 2023 | 12:56 pm
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NEGATIVE IMPACT
The lower than expected USA Redbook YoY may have a slight negative impact on SPY as it indicates a slower growth in the 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. A lower than expected figure indicates slower growth in the economy, which may negatively impact the performance of SPY, an ETF that tracks the S&P 500 and is heavily influenced by the overall state of the US economy.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75