U.K. Retail Sales (YoY) For August -1.4% Vs. -1.2% Est.; -3.1% (Revised) Prior; Retail Sales (MoM) For August 0.4% Vs. 0.5% Est.; -1.1% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
UK retail sales for August were reported lower than expected. Year-on-year sales were down 1.4% against an estimated 1.2% drop, and month-on-month sales increased by 0.4%, lower than the 0.5% estimate.
September 22, 2023 | 6:01 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be impacted by the lower than expected UK retail sales, as it reflects the performance of the UK economy.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK economy. Lower than expected retail sales indicate a potential slowdown in the economy, which could negatively impact the performance of the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80