U.K. Gross Domestic Product (MoM) For September 0.2% Vs. 0.0% Est.; 0.1% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for September increased by 0.2%, beating the estimated 0.0% and the revised prior of 0.1%.
November 10, 2023 | 7:02 am
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POSITIVE IMPACT
The U.K.'s better-than-expected GDP growth for September may positively impact the iShares MSCI United Kingdom ETF (EWU).
The U.K.'s GDP growth is a key indicator of the country's economic health. A higher-than-expected GDP growth rate is generally seen as positive for the country's stock market and related ETFs, such as EWU. Therefore, the news of the U.K.'s GDP beating estimates could lead to a short-term increase in EWU's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100