U.K. Retail Sales (YoY) For February -0.4% Vs. -0.9% Est.; 0.5% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales in February decreased by 0.4% year-over-year, beating the estimated decline of 0.9%. This is a slight improvement from the revised prior figure of 0.5%.
March 22, 2024 | 7:06 am
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POSITIVE IMPACT
The better-than-expected U.K. retail sales data for February suggests a potentially positive impact on the iShares MSCI United Kingdom ETF (EWU), reflecting resilience in the U.K. retail sector.
The iShares MSCI United Kingdom ETF (EWU) is likely to experience a positive short-term impact due to the better-than-expected retail sales data, as it reflects a stronger economic environment in the U.K. that could boost consumer confidence and spending, potentially benefiting companies within the ETF's portfolio.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80