USA Redbook (YoY) 4.6%; 5.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year growth rate has decreased to 4.6% from the previous 5.6%, indicating a slowdown in retail sales growth.
October 22, 2024 | 12:55 pm
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NEGATIVE IMPACT
The decrease in the USA Redbook YoY growth rate from 5.6% to 4.6% suggests a slowdown in retail sales, which could impact the SPY ETF as it reflects the broader market performance.
The SPY ETF, which tracks the S&P 500, could be affected by the slowdown in retail sales growth as indicated by the USA Redbook. A decrease in consumer spending can lead to lower revenues for retail companies, which are a significant component of the index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50