U.K. Monthly Gross Domestic Product 3M/3M Change For July 0.2% Vs. 0.3% Est.; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s monthly Gross Domestic Product (GDP) 3M/3M change for July was reported at 0.2%, which is slightly below the estimated 0.3% and equal to the prior figure of 0.2%.
September 13, 2023 | 6:04 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be impacted by the lower than expected U.K. GDP growth rate.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the U.K. economy. Therefore, any changes in key economic indicators such as the GDP growth rate can have a direct impact on the ETF. In this case, the lower than expected GDP growth rate could lead to a negative sentiment among investors, potentially leading to a decrease in the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100