U.K. Nationwide Housing Price Index (MoM) (July) -0.2% Vs. -0.2% Est.; 0.1% Prior; Nationwide Housing Price Index (YoY) (July) -3.8% Vs. -3.8% Est.; 03.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Nationwide Housing Price Index for July shows a month-on-month decrease of 0.2%, matching estimates, but down from the prior 0.1%. The year-on-year index shows a decrease of 3.8%, also matching estimates, but down from the prior 3.5%.
August 01, 2023 | 6:02 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the decrease in the U.K. Nationwide Housing Price Index, as it reflects the performance of the U.K. economy.
The U.K. Nationwide Housing Price Index is a key indicator of the health of the U.K. housing market and, by extension, the U.K. economy. A decrease in this index could indicate a weakening economy, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU), which aims to track the investment results of an index composed of U.K. equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80