USA Personal Spending (MoM) For October 0.2% Vs 0.2% Est.; 0.7% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Personal Spending for October showed a 0.2% increase, aligning with the 0.2% estimate and showing a decrease from the 0.7% increase in the prior month.
November 30, 2023 | 1:31 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by the reported alignment of personal spending with estimates, indicating steady consumer behavior.
The personal spending data is a key economic indicator that can influence investor sentiment and market performance. Since the report met expectations, it suggests stability in consumer spending, which is a significant component of economic activity. This could lead to a neutral short-term impact on the SPY ETF as the data neither exceeded nor fell short of market estimates.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70