U.K. Monthly Gross Domestic Product (GDP) 3M/3M Change For June 0.6% Vs. 0.7% Est.; 0.8% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Monthly Gross Domestic Product (GDP) for the three months ending in June showed a 0.6% change, which is below the estimated 0.7% and the revised prior figure of 0.8%.
August 15, 2024 | 6:25 am
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NEGATIVE IMPACT
The U.K. GDP growth for the three months ending in June was 0.6%, below the estimated 0.7% and the revised prior figure of 0.8%. This could negatively impact the iShares MSCI United Kingdom ETF (EWU) as it reflects slower economic growth.
The lower-than-expected GDP growth indicates a slower economic expansion, which could lead to a negative sentiment towards U.K. equities. As EWU tracks the performance of U.K. stocks, it is likely to be impacted negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80