United Kingdom Retail Sales (MoM) June 0.7% Vs. 0.2% Est.; 0.1% Prior ; Retail Sales (YoY) June -1% Vs. -1.5% Est.; -2.3% Prior
Portfolio Pulse from Benzinga Newsdesk
UK retail sales for June have outperformed estimates, with a month-on-month increase of 0.7% against the estimated 0.2%, and a year-on-year decrease of 1% against the estimated 1.5% decrease. This is an improvement from the previous month's figures.
July 21, 2023 | 6:04 am
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POSITIVE IMPACT
The better-than-expected UK retail sales figures for June may have a positive impact on the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the UK market.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK market. Therefore, better-than-expected retail sales figures, which indicate a stronger economy, could lead to an increase in the ETF's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80