US August Consumer Credit Rises By $8.93B Vs $13.45B Estimated Increase
Portfolio Pulse from Benzinga Newsdesk
In August, US consumer credit increased by $8.93 billion, which is below the estimated rise of $13.45 billion. This indicates a slower growth in consumer borrowing than expected.
October 07, 2024 | 7:04 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience a neutral to slightly negative impact due to the slower-than-expected growth in consumer credit, which could signal weaker consumer spending.
The SPY ETF, which tracks the S&P 500, could be affected by macroeconomic indicators like consumer credit. Slower credit growth may imply reduced consumer spending, potentially impacting companies within the index. However, the direct impact on SPY is likely neutral to slightly negative as this is just one of many economic indicators.
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