USA Redbook Retail Sales Week End October 21 +5% Vs Year Ago
Portfolio Pulse from Benzinga Newsdesk
USA Redbook retail sales for the week ending October 21 showed a year-on-year increase of 5%.
October 24, 2023 | 1:00 pm
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POSITIVE IMPACT
The increase in retail sales may indicate a healthy consumer spending, which could potentially have a positive impact on the broader market, represented by SPY.
Retail sales are a significant indicator of consumer spending, which accounts for a large portion of the economy. A rise in retail sales suggests consumers are spending more, which could lead to increased business activity and potentially boost the broader market, represented by SPY.
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