Retail Sales (MoM) (Sep) 0.7% vs 0.3% Est.
Portfolio Pulse from Benzinga Newsdesk
Retail Sales for the month of September increased by 0.7%, beating the estimated 0.3%.
October 17, 2023 | 12:30 pm
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POSITIVE IMPACT
The better-than-expected retail sales data may positively impact the SPY ETF, as it indicates a stronger consumer spending, which is a key driver of economic growth.
Retail sales data is a key economic indicator that reflects consumer spending, which accounts for a significant portion of the economy. A higher-than-expected increase in retail sales suggests that consumers are spending more, which could drive economic growth and potentially boost the performance of the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80