Reported Earlier, Australia Building Approvals (MoM) -4.6% Vs. -4.6% Est.; 8.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals (MoM) have been reported at -4.6%, matching the estimated figure but showing a decrease from the prior 8.1%.
November 08, 2023 | 5:22 am
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NEGATIVE IMPACT
The reported decrease in Australia's Building Approvals could potentially impact the iShares MSCI Australia ETF (EWA).
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian market. A decrease in building approvals indicates a potential slowdown in the construction sector, which could negatively impact the overall market and, by extension, the performance of EWA.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75