Australia Home Loans (MoM) -2.3% Vs. -1% Est.; -3% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's home loans have decreased by 2.3% month-on-month, which is more than the estimated decrease of 1% and the previous decrease of 3%.
September 01, 2023 | 4:59 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may be indirectly affected by the decrease in Australia's home loans as it reflects the performance of the Australian economy.
The decrease in home loans indicates a potential slowdown in the Australian housing market, which could have a negative impact on the overall economy. As EWA tracks the performance of the Australian economy, it could be indirectly affected by this news.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50