Australia Producer Price Index (YoY) (Q2) 3.9% Vs. 3.9 Est.; 4.9% Prior; Producer Price Index (QoQ) (Q2) 0.5% Vs. 0.9% Est.; 0.7% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Producer Price Index (YoY) for Q2 is reported at 3.9%, matching estimates but lower than the prior 4.9%. The QoQ index for Q2 is 0.5%, lower than the estimated 0.9% and the prior 0.7%.
July 28, 2023 | 4:25 am
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NEGATIVE IMPACT
The lower than expected QoQ Producer Price Index in Australia could potentially impact the performance of the iShares MSCI Australia ETF (EWA).
The Producer Price Index (PPI) is a significant economic indicator, reflecting the average changes in selling prices received by domestic producers for their output. A lower than expected PPI suggests a slower economic growth, which could negatively impact the performance of ETFs like EWA that track the Australian market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80