U.K. Industrial Production (MoM) For April -0.9% Vs. -0.1% Est.; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Industrial Production for April decreased by 0.9% month-over-month, significantly below the estimated -0.1% and the prior 0.2%.
June 12, 2024 | 6:08 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience short-term negative impact due to the significant decline in U.K. Industrial Production for April, which fell by 0.9% MoM, missing estimates.
The significant decline in U.K. Industrial Production is likely to negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) in the short term, as it reflects a slowdown in the U.K. economy.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80