Australia Building Approvals (MoM) For July -8.1% Vs. -0.8% Est.; -7.9% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's building approvals for July have significantly decreased by 8.1%, compared to the estimated decrease of 0.8% and the prior decrease of 7.9%.
August 30, 2023 | 4:31 am
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The iShares MSCI Australia ETF (EWA) may be impacted by the significant decrease in Australia's building approvals for July.
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian market. A significant decrease in building approvals indicates a potential slowdown in the construction sector, which could negatively impact the overall Australian economy and, consequently, the performance of EWA.
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IMPORTANCE 70
RELEVANCE 75