U.K. Manufacturing Production (MoM) For August -0.8% Vs. -0.4% Est.; -1.2% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
UK manufacturing production for August has decreased by 0.8%, which is worse than the estimated decrease of 0.4%. The previous figure was revised to a decrease of 1.2%.
October 12, 2023 | 6:09 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be negatively impacted by the worse than expected decrease in UK manufacturing production.
EWU, which tracks the investment results of an index composed of UK equities, may be negatively impacted by the worse than expected decrease in UK manufacturing production. This is because a decrease in manufacturing production can indicate a slowing economy, which can negatively impact the performance of equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80