Reported Earlier, Australia Gross Domestic Product (QoQ) For Q1 0.1% Vs. 0.2% Est.; 0.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Gross Domestic Product (GDP) for Q1 grew by 0.1%, falling short of the 0.2% estimate and down from the revised 0.3% in the previous quarter.
June 05, 2024 | 4:18 am
News sentiment analysis
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to Australia's Q1 GDP growth of 0.1%, which missed estimates and was lower than the previous quarter.
The lower-than-expected GDP growth indicates a slower economic expansion, which could negatively impact investor sentiment towards Australian equities, including those in the EWA ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80