U.K. Core Retail Sales (MoM) For April -2.0% Vs. -0.6% Est.; -0.6% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Core Retail Sales for April fell by 2.0% month-over-month, significantly missing the estimated decline of 0.6% and the revised prior figure of -0.6%.
May 24, 2024 | 6:02 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience short-term negative impact due to the significant decline in U.K. Core Retail Sales for April, which fell by 2.0% MoM, missing the estimated -0.6%.
The significant miss in U.K. Core Retail Sales for April suggests weaker consumer spending, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80