U.K. Retail Sales (MoM) For May 2.9% Vs. 1.6% Est.; -1.8% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for May increased by 2.9% month-over-month, significantly surpassing the estimated 1.6% and recovering from a revised -1.8% in the prior month.
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 stronger-than-expected U.K. retail sales for May, which increased by 2.9% MoM.
The significant increase in U.K. retail sales for May, which surpassed expectations, suggests a stronger consumer spending environment. This is likely to positively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. equity market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80