U.K. Retail Sales (MoM) For April -2.3% Vs. -0.5% Est.; -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for April decreased by 2.3% month-over-month, significantly worse than the estimated -0.5% and the prior month's -0.2%.
May 24, 2024 | 6:03 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be negatively impacted in the short term due to the significant decline in U.K. retail sales for April, which fell by 2.3% MoM, far below expectations.
The significant decline in U.K. retail sales suggests a weakening consumer sector, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80