Reported Earlier, Australia Retail Sales (MoM) Preliminary For October -0.2% Vs. 0.1% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for October showed a preliminary decrease of 0.2% month-over-month, which is below the estimated 0.1% increase and a decline from the previous 0.9% growth.
November 28, 2023 | 5:19 am
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The iShares MSCI Australia ETF (EWA) may experience short-term negative impact due to lower than expected retail sales in Australia for October.
As EWA tracks the investment results of an index composed of Australian equities, lower retail sales figures suggest a potential slowdown in consumer spending, which could negatively affect the Australian market and, consequently, the performance of EWA in the short term.
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