U.K. Retail Sales (MoM) For July 0.5% Vs. 0.6% Est.; -0.9% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. retail sales for July increased by 0.5% month-over-month, falling short of the estimated 0.6%. The previous month's sales were revised to a decline of 0.9%.
August 16, 2024 | 6:38 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience short-term volatility due to the U.K. retail sales data for July, which came in below expectations at 0.5% versus the estimated 0.6%.
The U.K. retail sales data is a key economic indicator that can impact investor sentiment towards U.K. equities. The lower-than-expected growth may lead to short-term negative sentiment for EWU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80