U.K. Gross Domestic Product (MoM) For June 0.5% Vs. 0.2% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for June increased by 0.5%, beating the estimated 0.2% and showing improvement from the previous -0.1%.
August 11, 2023 | 6:01 am
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POSITIVE IMPACT
The U.K.'s GDP growth for June, which surpassed estimates, may positively impact the iShares MSCI United Kingdom ETF (EWU).
The U.K.'s GDP growth is a key indicator of the country's economic health. A higher than expected GDP growth rate is generally positive for the country's stock market and ETFs like EWU that track it. Therefore, the news of the U.K.'s GDP growth surpassing estimates is likely to have a positive impact on EWU in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80