USA Personal Spending (MoM) For May 0.2% Vs 0.3% Est.; 0.1% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
USA Personal Spending for May increased by 0.2%, which is below the estimated 0.3% but higher than the revised prior figure of 0.1%.
June 28, 2024 | 12:31 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a slight negative impact due to the lower-than-expected increase in personal spending for May, which came in at 0.2% versus the 0.3% estimate.
Personal spending is a key indicator of economic health. The lower-than-expected increase suggests weaker consumer activity, which could negatively impact the broader market represented by SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80