U.K. Gross Domestic Product (QoQ) For Q3 -0.1% Vs. 0.0% Est.; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for Q3 has contracted by 0.1%, which is below the estimated 0.0% and the previous 0.2% growth. This indicates a slight economic downturn for the U.K. during the third quarter.
December 22, 2023 | 7:21 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU), which tracks the investment results of an index composed of U.K. equities, may face short-term negative impact due to the lower than expected GDP figures indicating an economic slowdown.
As EWU is an ETF that tracks the U.K. market, negative GDP growth figures suggest a potential economic slowdown, which could reduce investor confidence in U.K. equities and negatively impact EWU's performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80