U.K. Industrial Production (MoM) For July -0.8% Vs. 0.3% Est.; 0.8% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Industrial Production for July decreased by 0.8%, missing the estimated growth of 0.3% and reversing from a 0.8% increase in the prior month.
September 11, 2024 | 6:06 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the unexpected decline in U.K. Industrial Production for July, which fell by 0.8% against an expected increase of 0.3%.
EWU, an ETF that tracks U.K. equities, is likely to be affected by the negative industrial production data, as it suggests a slowdown in the U.K. economy, potentially impacting the performance of U.K. stocks included in the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80