U.K. Industrial Production (MoM) For January -0.2% Vs. 0.0% Est.; 0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Industrial Production decreased by 0.2% in January, missing the estimated 0.0% and down from the previous 0.6% increase.
March 13, 2024 | 7:04 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience short-term negative impact due to the unexpected decrease in U.K. Industrial Production.
As EWU tracks the investment results of an index composed of U.K. equities, a decrease in industrial production suggests a potential slowdown in the U.K. economy, which could negatively affect the performance of U.K.-based companies and, by extension, EWU's performance in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80