U.K. Retail Sales (YoY) For April -2.7% Vs. -0.2% Est.; 0.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for April fell by 2.7% year-over-year, significantly missing the estimated decline of 0.2% and down from the revised prior figure of 0.4%.
May 24, 2024 | 6:03 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the significant decline in U.K. retail sales for April, which fell by 2.7% year-over-year, missing estimates.
The significant miss in U.K. retail sales figures suggests a weaker consumer environment, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80