U.K. Manufacturing Production (MoM) For July -0.8% Vs. -1% Est; 2.4% Prior
Portfolio Pulse from Benzinga Newsdesk
UK's Manufacturing Production for July has decreased by 0.8%, which is better than the estimated decrease of 1%. However, it is lower than the prior figure of 2.4%.
September 13, 2023 | 6:02 am
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NEGATIVE IMPACT
The UK's Manufacturing Production for July, which is better than estimated but lower than the prior figure, may impact the performance of the iShares MSCI United Kingdom ETF (EWU).
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK market. A decrease in manufacturing production, which is a key economic indicator, could negatively impact the UK market and, consequently, the performance of EWU.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80