U.K. Retail Sales (YoY) For December -3.2% Vs. -0.6% Est.; 1.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for December 2022 decreased by 3.2% year-over-year, a larger drop than the estimated 0.6% decline. This is a significant decrease from the prior month's revised figure of 1.4% growth.
January 19, 2024 | 7:11 am
News sentiment analysis
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the reported decline in U.K. retail sales, as the ETF includes companies that could be affected by reduced consumer spending.
The iShares MSCI United Kingdom ETF (EWU) is likely to be negatively impacted in the short term due to the worse-than-expected retail sales data from the U.K. This data suggests a potential slowdown in consumer spending, which can adversely affect the revenues and profits of companies within the ETF's holdings. As retail sales are a significant economic indicator, the negative report is likely to lead to bearish sentiment among investors regarding U.K. equities in the near term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80