Australia Building Approvals (MoM) -8.1% Vs. -8.1% Est.; -7.9% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals have decreased by 8.1% month-on-month, matching the estimated decrease and showing a slight increase from the prior decrease of 7.9%.
September 07, 2023 | 3:54 am
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NEGATIVE IMPACT
The decrease in Australia's Building Approvals may impact the iShares MSCI Australia ETF (EWA), as it reflects the performance of the Australian economy.
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian economy. A decrease in building approvals indicates a potential slowdown in the construction sector, which could negatively impact the overall economy and, consequently, the performance of EWA.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80