U.K. Gross Domestic Product (QoQ) Preliminary For Q4 -0.3% Vs. -0.1% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for the fourth quarter (Q4) decreased by 0.3%, which is worse than the estimated decrease of 0.1% and also a decline from the previous quarter's -0.1%.
February 15, 2024 | 7:08 am
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NEGATIVE IMPACT
The worse-than-expected decline in the U.K.'s GDP for Q4 could negatively impact investor sentiment towards the iShares MSCI United Kingdom ETF (EWU), which tracks the investment results of an index composed of U.K. equities.
The EWU ETF is directly tied to the performance of the U.K. equity market. A worse-than-expected GDP report indicates a slowing economy, which can dampen investor confidence and potentially lead to a decrease in the ETF's value in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80