U.K. Retail Sales (YoY) For May 1.3% Vs. -0.9% Est.; -2.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for May increased by 1.3% year-over-year, surpassing the estimated -0.9% and showing a significant improvement from the revised prior figure of -2.3%.
June 21, 2024 | 6:05 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) is likely to see a positive impact due to the better-than-expected U.K. retail sales data for May, which rose by 1.3% year-over-year.
The positive retail sales data indicates a stronger-than-expected performance in the U.K. retail sector, which is a significant component of the EWU ETF. This could lead to increased investor confidence and a potential rise in the ETF's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80