USA Redbook (YoY) 5.2% Vs 5.4% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year data shows a 5.2% increase compared to the previous 5.4%. This indicates a slight slowdown in the growth of retail sales.
January 23, 2024 | 1:56 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may experience a neutral to slightly negative impact due to the marginal slowdown in retail sales growth as indicated by the Redbook data.
The Redbook index is a measure of retail sales and can be an indicator of consumer spending trends. A slight decrease in the growth rate may suggest a cooling of consumer spending, which could have a modest impact on the broader market as reflected by SPY. However, the change is minimal, and other economic factors will also play a significant role in determining SPY's movement.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50