Reported Earlier, Australia Construction Work Done (QoQ) For Q1 -2.9% Vs. 0.6% Est.; 1.8% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's construction work done for Q1 fell by 2.9% compared to an estimated 0.6% increase, and a revised prior figure of 1.8%.
May 29, 2024 | 4:43 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may be impacted by the reported 2.9% decline in Australia's Q1 construction work done, which missed the estimated 0.6% increase.
The significant miss in construction work done for Q1 in Australia is likely to negatively impact the iShares MSCI Australia ETF (EWA) in the short term, as construction is a key economic indicator.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80