U.K. Gross Domestic Product (MoM) For July -0.5% Vs. -0.2% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for July has decreased by 0.5%, which is more than the estimated decrease of 0.2%. The prior month's GDP was 0.5%.
September 13, 2023 | 6:01 am
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NEGATIVE IMPACT
The U.K.'s GDP for July has decreased more than expected, which could negatively impact the iShares MSCI United Kingdom ETF (EWU).
The U.K.'s GDP is a key indicator of the country's economic health. A decrease more than expected suggests a slowing economy, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU), as it tracks the investment results of an index composed of U.K. equities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100