USA Retail Inventories Ex Auto For August 0.5% Vs 0.4% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
Retail inventories in the USA, excluding autos, increased by 0.5% in August, surpassing the estimated 0.4% and matching the prior month's growth.
October 17, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as retail inventories excluding autos increased by 0.5% in August, surpassing expectations.
The increase in retail inventories excluding autos suggests a stronger retail sector, which could positively impact the broader market represented by SPY. The growth rate exceeded expectations, indicating potential economic strength.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50