USA Retail Inventories Ex Auto For August 0.5% Vs 0.6% Est.; 0.0% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding auto for August have been reported at 0.5%, lower than the estimated 0.6% and unchanged from the prior month.
October 17, 2023 | 2:00 pm
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The lower than expected retail inventories could potentially impact the overall market, represented by SPY, as it indicates slower economic activity.
Retail inventories are a measure of unsold goods, and a lower than expected number could indicate slower economic activity as it suggests less goods are being produced and sold. This could potentially impact the overall market, represented by SPY, as slower economic activity could lead to lower corporate earnings and thus lower stock prices.
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IMPORTANCE 60
RELEVANCE 75