Reported Earlier, Australia Wage Price Index (QoQ) For Q1 0.8% Vs. 0.9% Est.; 1.0% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Wage Price Index (QoQ) for Q1 came in at 0.8%, below the estimated 0.9% and the revised prior figure of 1.0%.
May 15, 2024 | 4:48 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see short-term volatility due to the lower-than-expected Wage Price Index (QoQ) for Q1, which came in at 0.8% versus the 0.9% estimate and the revised prior figure of 1.0%.
The lower-than-expected Wage Price Index suggests slower wage growth, which could impact consumer spending and economic growth in Australia. This may lead to short-term negative sentiment for the EWA ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80