U.K. Manufacturing Production (MoM) For June 1.1% Vs. 0.2% Est.; 0.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. Manufacturing Production for June increased by 1.1% month-over-month, significantly surpassing the estimated 0.2% and the revised prior figure of 0.3%.
August 15, 2024 | 6:25 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) is likely to see a positive impact due to the significant increase in U.K. Manufacturing Production for June, which rose by 1.1% MoM, far exceeding expectations.
The substantial increase in U.K. Manufacturing Production suggests a stronger economic performance, which is likely to positively impact the iShares MSCI United Kingdom ETF (EWU). The ETF is directly tied to the performance of the U.K. economy, and better-than-expected manufacturing data is a positive indicator.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80