U.K. Monthly Gross Domestic Product (GDP) 3M/3M Change For July 0.5% Vs. 0.6% Est.; 0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K.'s GDP for the three months ending in July grew by 0.5%, slightly below the estimated 0.6% and the previous 0.6%. This indicates a slight slowdown in economic growth.
September 11, 2024 | 6:07 am
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NEGATIVE IMPACT
The U.K.'s GDP growth for July was 0.5%, below expectations and the previous period. This could impact the iShares MSCI United Kingdom ETF (EWU), which tracks U.K. equities.
EWU is an ETF that tracks U.K. equities, and a lower-than-expected GDP growth suggests a potential slowdown in economic activity, which could negatively impact U.K. stocks in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80