USA Redbook (YoY) 6.5% Vs 6.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year growth rate increased to 6.5% from the previous 6.3%, indicating a slight improvement in retail sales performance.
September 10, 2024 | 12:55 pm
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POSITIVE IMPACT
The increase in the USA Redbook YoY growth rate to 6.5% from 6.3% suggests a slight improvement in retail sales, which could positively impact the SPY ETF as it reflects broader economic conditions.
The SPY ETF, which tracks the S&P 500, could benefit from improved retail sales as indicated by the USA Redbook's YoY growth rate increase. This suggests a healthier consumer spending environment, potentially boosting the performance of retail and consumer-focused companies within the index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50