U.K. Core Retail Sales (MoM) For September -1% Vs. -0.4% Est.; 0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
UK's core retail sales for September fell by 1%, which is more than the estimated 0.4% decrease and a significant drop from the 0.6% increase in the previous month.
October 20, 2023 | 6:01 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be negatively impacted by the worse than expected drop in UK's core retail sales for September.
EWU tracks the investment results of an index composed of UK equities. A worse than expected drop in retail sales indicates a potential slowdown in the UK economy, which could negatively impact the performance of UK equities and, consequently, EWU.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80