USA Redbook (YoY) 3.0% Vs 6.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year data shows a decrease to 3.0% from the previous 6.3%, indicating a slowdown in consumer spending growth.
December 05, 2023 | 1:55 pm
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NEGATIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by the Redbook data as it reflects consumer spending, a key economic driver.
The Redbook index is a measure of retail sales and a significant drop suggests a potential decrease in economic activity, which can negatively affect market sentiment and the performance of the S&P 500 index tracked by SPY.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70