Reported Earlier, U.K. RICS House Price Balance For May -17% vs. -5% Est.; -7% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. RICS House Price Balance for May was reported at -17%, significantly below the estimated -5% and the revised prior figure of -7%.
June 13, 2024 | 5:20 am
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The U.K. RICS House Price Balance for May came in at -17%, significantly below expectations. This negative data could impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. equity market.
The significantly worse-than-expected U.K. RICS House Price Balance suggests a weakening housing market, which could negatively affect the broader U.K. economy and, by extension, the performance of the iShares MSCI United Kingdom ETF (EWU).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80