U.K. Halifax House Price Index (YoY) For August -4.6% Vs. -3.5% Est.; -2.5% (Revised) Prior; Halifax House Price Index (MoM) For August -1.9% Vs. -0.3% Est.; -0.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Halifax House Price Index for August shows a year-on-year decrease of 4.6%, worse than the estimated 3.5% and the revised prior of 2.5%. The month-on-month index for August also decreased by 1.9%, compared to the estimated 0.3% and the revised prior of 0.4%.
September 07, 2023 | 6:01 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be negatively impacted by the worse than expected U.K. Halifax House Price Index for August.
The U.K. Halifax House Price Index is a key indicator of the health of the U.K. housing market. A worse than expected decrease in the index could indicate a weakening housing market, which could negatively impact the U.K. economy and, by extension, the performance of the iShares MSCI United Kingdom ETF (EWU), which tracks the U.K. stock market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80