Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For December 1.9% Vs. 2.3% Est.; 2.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. BRC Retail Sales Monitor reported a year-over-year increase of 1.9% for December, which is below the estimated 2.3% and the previous 2.6%.
January 09, 2024 | 5:19 am
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NEGATIVE IMPACT
The lower-than-expected U.K. retail sales data may lead to a negative short-term impact on EWU, which tracks U.K. equities.
As EWU tracks the performance of U.K. equities, weaker retail sales data suggests a potential slowdown in consumer spending, which could negatively affect the U.K. stock market and, consequently, EWU's performance in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80