U.K. Monthly Gross Domestic Product 3M/3M Change For December -0.3% Vs. -0.1% Est.; -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s Gross Domestic Product (GDP) for the three months ending in December decreased by 0.3%, which is worse than the estimated decrease of 0.1% and the previous period's decrease of 0.2%.
February 15, 2024 | 7:12 am
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NEGATIVE IMPACT
The worse-than-expected GDP data for the U.K. may lead to negative sentiment towards U.K.-focused investments, potentially impacting EWU.
The iShares MSCI United Kingdom ETF (EWU), which tracks the investment results of an index composed of U.K. equities, is likely to be negatively impacted in the short term due to the disappointing GDP data. This data suggests a weakening economic environment in the U.K., which could reduce investor confidence in U.K.-based assets, including those held by EWU.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80