U.K. Retail Sales (MoM) For March 0.0% Vs. 0.3% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for March showed no growth, coming in at 0.0%, which was below the estimated 0.3% and slightly down from the previous month's 0.1%.
April 19, 2024 | 6:02 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU), which tracks the investment results of an index composed of U.K. equities, may see short-term impact due to lower than expected retail sales data for March.
As EWU tracks U.K. equities, the lower than expected retail sales data for March suggests a potential slowdown in consumer spending, which could negatively affect the performance of U.K. equities and, by extension, EWU's performance in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80