Reported Earlier, Australia Producer Price Index (QoQ) 0.9% Vs. 1.9% Est.; 1.8% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Producer Price Index (PPI) for the quarter increased by 0.9%, which is lower than the estimated 1.9% and the previous quarter's 1.8%. This indicates a slowdown in the growth of prices at the producer level in Australia.
February 02, 2024 | 5:36 am
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NEGATIVE IMPACT
The lower-than-expected PPI may lead to a short-term negative impact on EWA, reflecting concerns over Australia's economic momentum.
EWA, which tracks the Australian market, may face downward pressure as the lower PPI suggests a cooling in the producer sector, potentially leading to reduced economic expectations.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80