Reported Earlier, Australia Building Approvals (MoM) Preliminary For December 1.6% Vs. -2.0% Est.; 7.2% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals for December showed a preliminary increase of 1.6% month-over-month, surpassing the estimated decline of -2.0%. This is an improvement from the revised prior figure of 7.2%.
January 09, 2024 | 5:21 am
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The iShares MSCI Australia ETF (EWA) may see a positive impact as the increase in building approvals suggests a stronger construction sector, which could boost Australian equities.
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian equity market, which is likely to be positively influenced by the stronger-than-expected building approvals data, indicating a robust construction sector and potentially higher economic activity.
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