Reported Earlier, Australia Gross Domestic Product (YoY) For Q1 1.1% Vs. 1.2% Est.; 1.6% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Gross Domestic Product (GDP) for Q1 grew by 1.1% year-over-year, falling short of the estimated 1.2% and down from the revised prior figure of 1.6%.
June 05, 2024 | 4:19 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to Australia's Q1 GDP growth missing estimates and showing a decline from the previous quarter.
The lower-than-expected GDP growth indicates a potential slowdown in the Australian economy, which could negatively impact the performance of the iShares MSCI Australia ETF (EWA) in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100