U.K. Retail Sales (MoM) For September -0.9% Vs. -0.2% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
UK retail sales for September fell by 0.9%, more than the estimated 0.2% decrease, and compared to a 0.4% increase in the previous month.
October 20, 2023 | 6:02 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be negatively impacted by the larger than expected decrease in UK retail sales for September.
The iShares MSCI United Kingdom ETF (EWU) tracks the performance of the UK market. A larger than expected decrease in retail sales indicates a potential slowdown in the UK economy, which could negatively impact the performance of the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100