Australia Building Approvals (MoM) Preliminary For August 7% Vs. 2.5% Est.; -7.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's building approvals for August have exceeded estimates, coming in at 7% month-on-month compared to the 2.5% estimate. This is a significant improvement from the revised -7.4% in the prior month.
October 03, 2023 | 4:54 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may be positively impacted by the better-than-expected building approvals data, as it suggests a stronger Australian economy.
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian market. The better-than-expected building approvals data suggests a stronger Australian economy, which could lead to improved performance of the Australian market and, consequently, a positive impact on EWA.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75