Australia Construction Work Done (QoQ) For Q2 0.4% Vs. 1% Est.; 3.8% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's construction work done for Q2 has been reported at 0.4%, lower than the estimated 1% and significantly lower than the prior figure of 3.8%.
August 30, 2023 | 4:31 am
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The iShares MSCI Australia ETF (EWA) may be impacted by the lower than expected construction work done in Australia for Q2.
EWA, which tracks the investment results of an index composed of Australian equities, may be negatively impacted by the lower than expected construction work done in Australia for Q2. This is because the construction sector is a significant part of the Australian economy and its underperformance could signal broader economic issues that could affect the overall performance of Australian equities.
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