USA Retail Inventories Ex Auto For October -0.9% Vs -0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding automobiles for October decreased by 0.9% compared to a 0.4% increase in the prior month.
November 29, 2023 | 1:30 pm
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NEGATIVE IMPACT
The decrease in retail inventories excluding autos suggests a potential slowdown in retail activity, which could impact the broader market as represented by SPY.
Retail inventories are a key economic indicator that can signal the health of the retail sector. A decrease in inventories might indicate lower future sales and reduced economic activity, which can negatively affect market sentiment and the performance of the SPY ETF, which tracks the S&P 500.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70