U.K. Manufacturing Production (MoM) For July -1.0% Vs. 0.2% Est.; 1.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Production for July decreased by 1.0% month-over-month, missing the estimated increase of 0.2% and down from the previous month's 1.1% growth.
September 11, 2024 | 6:07 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the unexpected decline in U.K. Manufacturing Production for July, which fell by 1.0% against an expected rise of 0.2%.
EWU, an ETF that tracks the performance of the U.K. equity market, may experience downward pressure due to the negative surprise in U.K. Manufacturing Production. The decline suggests potential economic weakness, which could affect investor sentiment towards U.K. equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80