U.K. Gross Domestic Product (MoM) For December -0.1% Vs. -0.2% Est.; 0.2% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for December showed a slight contraction of 0.1%, which is better than the estimated 0.2% decrease. This follows a revised prior month's growth of 0.2%.
February 15, 2024 | 7:11 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience slight positive movement due to the better-than-expected GDP contraction for December.
The iShares MSCI United Kingdom ETF (EWU), which tracks the investment results of an index composed of U.K. equities, is likely to be positively impacted in the short term by the better-than-expected GDP data. This is because the GDP figure suggests a more resilient U.K. economy than anticipated, which can boost investor confidence in U.K.-based assets, including those held by EWU.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80