Reported Earlier, Australia Retail Sales (MoM) Preliminary For February 0.3% Vs. 0.4% Est.; 1.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for February showed a preliminary increase of 0.3%, which is slightly below the estimated 0.4% but lower than the previous month's 1.1% growth. This indicates a slowdown in retail sales growth in Australia.
March 28, 2024 | 4:11 am
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The iShares MSCI Australia ETF (EWA) may experience short-term impact due to the reported slowdown in Australia's retail sales growth for February.
As EWA tracks the investment results of an index composed of Australian equities, a slowdown in retail sales growth could signal weaker consumer spending, potentially affecting companies within the ETF's portfolio. This may lead to a negative short-term impact on EWA's performance.
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