Global/CIPS UK Services Purchasing Managers Index 51.5 Vs. 53.0 Est.; 53.7 Prior
Portfolio Pulse from Benzinga Newsdesk
The Global/CIPS UK Services Purchasing Managers Index (PMI) has dropped to 51.5, lower than the estimated 53.0 and the prior figure of 53.7.
July 24, 2023 | 8:34 am
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NEGATIVE IMPACT
The lower than expected UK Services PMI could negatively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the UK market.
The UK Services PMI is a key indicator of the health of the UK economy. A lower than expected figure suggests a slowdown in the services sector, which could negatively impact the overall UK market and, by extension, the performance of the EWU ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80