USA Redbook Retail Sales First 3 Weeks Of October +4.5% Vs Year Ago
Portfolio Pulse from Benzinga Newsdesk
USA Redbook retail sales for the first three weeks of October have increased by 4.5% compared to the same period last year.
October 24, 2023 | 1:01 pm
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POSITIVE IMPACT
The increase in retail sales suggests a positive economic outlook, which could potentially boost the SPY ETF.
Retail sales are a key indicator of consumer spending, which accounts for a significant portion of economic activity. An increase in retail sales suggests that consumers are spending more, indicating a healthy economy. This could potentially boost the SPY ETF, which tracks the S&P 500 and is a good representation of the overall US stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50