U.K. Current Account For Q2 -25.3B Vs. -15B Est.; -15.2B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s current account deficit for Q2 was reported at -25.3B, significantly higher than the estimated -15B and the revised prior figure of -15.2B.
September 29, 2023 | 6:01 am
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NEGATIVE IMPACT
The U.K.'s larger than expected current account deficit for Q2 may negatively impact the iShares MSCI United Kingdom ETF (EWU).
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the U.K. equity market. A larger than expected current account deficit indicates a weaker economy, which could negatively impact the performance of U.K. stocks and, consequently, the EWU ETF.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100