United Kingdom Core Retail Sales (MoM) June 0.8% Vs. 0.2% Est.; 0.1% Prior; Core Retail Sales (YoY) June -0.9% Vs. -1.6% Est.; -1.9% Prior
Portfolio Pulse from Benzinga Newsdesk
UK's core retail sales for June have outperformed estimates, with a month-on-month increase of 0.8% against the estimated 0.2%, and a year-on-year decrease of 0.9% against the estimated -1.6%. The figures indicate a better than expected performance in the UK retail sector.
July 21, 2023 | 6:03 am
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POSITIVE IMPACT
The better than expected UK retail sales data may have a positive impact on the iShares MSCI United Kingdom ETF (EWU), which could see a boost due to improved sentiment towards the UK economy.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK equity market. Therefore, any positive news about the UK economy, such as better than expected retail sales data, can increase investor confidence and potentially boost the ETF's performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80