Personal Spending MoM For June 0.3% Vs 0.3% Expected, 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
Personal spending in the U.S. for June increased by 0.3%, matching expectations but slightly lower than the 0.4% increase in May.
July 26, 2024 | 12:30 pm
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Personal spending in the U.S. for June increased by 0.3%, matching expectations but slightly lower than the 0.4% increase in May. This data suggests steady consumer spending, which could support the broader market represented by SPY.
The personal spending data indicates steady consumer behavior, which is a positive sign for the overall economy. As SPY tracks the S&P 500, steady consumer spending can be seen as supportive for the broader market.
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