U.K. Manufacturing Production (MoM) For April -1.4% Vs. -0.2% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Manufacturing Production for April decreased by 1.4% month-over-month, significantly below the estimated -0.2% and the prior 0.3%.
June 12, 2024 | 6:08 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) is likely to be impacted negatively due to the significant drop in U.K. Manufacturing Production for April, which fell by 1.4% MoM, missing the -0.2% estimate and previous 0.3%.
The significant drop in U.K. Manufacturing Production is a negative indicator for the U.K. economy, which is likely to affect the performance of the iShares MSCI United Kingdom ETF (EWU). The ETF's holdings are exposed to the U.K. market, and poor manufacturing data can lead to lower investor confidence and potential sell-offs.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80