U.K. Core Retail Sales (MoM) For June -1.5% Vs. -0.5% Est.; 2.9% Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Core Retail Sales for June fell by 1.5% month-over-month, significantly missing the estimated decline of 0.5% and down from the 2.9% increase in the prior month.
July 19, 2024 | 6:02 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience short-term pressure due to the significant decline in U.K. Core Retail Sales for June, which fell by 1.5% MoM, missing estimates.
The significant miss in U.K. Core Retail Sales for June suggests weaker consumer spending, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80