USA Retail Sales (MoM) For January -0.8% Vs -0.2% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Retail Sales for January decreased by 0.8%, which is lower than the estimated -0.2% and the previous month's 0.4%.
February 15, 2024 | 1:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the unexpected drop in retail sales, indicating potential economic slowdown.
Retail sales are a significant indicator of consumer spending, which constitutes a large portion of overall economic activity. A decrease in retail sales more than expected suggests a potential slowdown in economic growth, which could negatively impact market sentiment and the performance of broad market ETFs like SPY in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80