Reported Earlier, Australia Construction Work Done (QoQ) 0.1% Vs. 0.8% Est.; -2.0% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's construction work done for the quarter increased by 0.1%, falling short of the estimated 0.8% and showing a recovery from the revised prior figure of -2.0%. This data may impact the iShares MSCI Australia ETF (EWA), which tracks the performance of the Australian equity market.
August 28, 2024 | 5:08 am
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NEUTRAL IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to Australia's construction work done data, which increased by 0.1% but missed the 0.8% estimate.
EWA tracks the Australian equity market, and construction data is a key economic indicator. The lower-than-expected growth may lead to short-term uncertainty in the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80