USA Redbook (YoY) 5.5% Vs. 6.3% YoY
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year (YoY) growth rate has decreased to 5.5% from the previous 6.3%.
May 21, 2024 | 12:56 pm
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NEGATIVE IMPACT
The USA Redbook YoY growth rate has decreased to 5.5% from 6.3%, indicating a slowdown in retail sales growth. This could impact the SPDR S&P 500 ETF (SPY) as it reflects overall economic conditions.
A decrease in the Redbook YoY growth rate suggests a slowdown in retail sales, which can be a negative indicator for the overall economy. As SPY tracks the S&P 500, it may experience downward pressure due to concerns about economic growth.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50