U.K. Core Retail Sales (MoM) For August 0.6% Vs. 0.6% Est.; -1.4% Prior; Core Retail Sales (YoY) For August -1.4% Vs. -1.3% Est.; -3.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
UK's core retail sales for August have been reported. Month-on-month, the sales were 0.6%, matching the estimate but showing an improvement from the prior -1.4%. Year-on-year, the sales were -1.4%, slightly worse than the -1.3% estimate and an improvement from the revised prior of -3.3%.
September 22, 2023 | 6:01 am
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NEUTRAL IMPACT
The reported UK retail sales data may impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the UK market.
The reported retail sales data is a key economic indicator that can influence the performance of the UK market, and by extension, the EWU ETF. However, the mixed results, with MoM sales matching estimates and YoY sales slightly worse than estimates, make it difficult to predict the direction of the impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75