Reported Earlier, Australia Construction Work Done (QoQ) For Q4 0.7% Vs. 0.6% Est.; 1.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Construction Work Done for Q4 showed a 0.7% increase, slightly above the 0.6% estimate and following a revised 1.4% increase in the previous quarter. This indicates a slight slowdown in growth but still surpasses expectations.
February 28, 2024 | 5:30 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see a positive short-term impact due to the better-than-expected construction data from Australia, indicating a resilient economy.
The iShares MSCI Australia ETF (EWA), which tracks the investment results of an index composed of Australian equities, is likely to be positively impacted in the short term by the better-than-expected construction work done data for Q4. This data suggests that the Australian economy is more resilient than anticipated, which could lead to increased investor confidence in Australian equities, potentially boosting EWA's performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80