Reported Earlier, Australia Retail Sales (MoM) Preliminary For April 0.1% Vs. 0.3% Est.; -0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for April increased by 0.1% month-over-month, falling short of the estimated 0.3% and improving from the previous month's -0.4%.
May 28, 2024 | 4:48 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see a slight negative impact due to Australia's retail sales growth of 0.1% in April, which missed the 0.3% estimate.
The lower-than-expected retail sales growth suggests weaker consumer spending, which could negatively impact the performance of the iShares MSCI Australia ETF (EWA).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80