Reported Earlier, Australia Construction Work Done (QoQ) For Q3 1.3% Vs. 0.4% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Construction Work Done for Q3 showed a significant increase of 1.3% compared to the estimated 0.4% and the previous 0.4%. This indicates a stronger than expected performance in the construction sector.
November 29, 2023 | 5:25 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience positive movement due to the stronger than expected construction data from Australia, as the ETF includes companies that could benefit from increased construction activity.
The iShares MSCI Australia ETF (EWA) is likely to be positively impacted in the short term as the construction sector is a significant component of the Australian economy. The better-than-expected construction data suggests a healthy economic environment, which could lead to increased investor confidence in Australian markets and, by extension, in EWA.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70