United Kingdom Trade Balance For May -18.72B Vs. -14.70B Est.; -14.64B Prior; Trade Balance Non-EU For May -6.76B Vs. -6.45B Est.; -4.64B Prior
Portfolio Pulse from Benzinga Newsdesk
The United Kingdom's trade deficit for May was reported at -18.72B, significantly worse than the estimated -14.70B and the prior figure of -14.64B. The trade balance with non-EU countries also deteriorated to -6.76B from the estimated -6.45B and the prior -4.64B.
July 13, 2023 | 6:45 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be negatively impacted by the worse than expected UK trade deficit figures for May.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK market. The worse than expected trade deficit figures indicate a weakening economy, which could negatively impact the performance of the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100