U.K. Average Earnings Index +Bonus For August 8.1% Vs. 8.3% Est.; 8.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Average Earnings Index +Bonus for August was reported at 8.1%, lower than the estimated 8.3% and the prior figure of 8.5%.
October 17, 2023 | 6:02 am
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NEGATIVE IMPACT
The lower than expected U.K. Average Earnings Index +Bonus for August may impact the performance of the iShares MSCI United Kingdom ETF (EWU).
The U.K. Average Earnings Index +Bonus is a key economic indicator that can influence investor sentiment towards U.K.-related assets. A lower than expected figure suggests a slowdown in wage growth, which could negatively impact consumer spending and overall economic activity. This could potentially lead to a decrease in the value of U.K.-related assets, such as the iShares MSCI United Kingdom ETF (EWU).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80