S&P Global/CIPS UK Manufacturing Purchasing Managers Index 45.0 Vs. 46.1 Est.; 46.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global/CIPS UK Manufacturing Purchasing Managers Index has dropped to 45.0, lower than the estimated 46.1 and the prior figure of 46.5.
July 24, 2023 | 8:33 am
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NEGATIVE IMPACT
The lower than expected UK Manufacturing PMI could negatively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the UK market.
The UK Manufacturing PMI is a key indicator of the health of the UK manufacturing sector. A lower than expected figure suggests a slowdown in the sector, which could negatively impact the performance of the UK market and, by extension, the EWU ETF which tracks this market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80