U.K. Composite Purchasing Managers' Index For July 50.8 Vs. 50.7 Est.; 52.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Composite Purchasing Managers' Index (PMI) for July was reported at 50.8, slightly above the estimated 50.7, but lower than the prior figure of 52.8.
August 04, 2023 | 12:38 pm
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The U.K. Composite PMI for July, which is slightly above estimates but lower than the previous figure, may impact the iShares MSCI United Kingdom ETF (EWU).
The PMI is a key indicator of economic health, reflecting purchasing managers' acquisition of goods and services. A lower PMI than the previous figure suggests a potential slowdown in the U.K. economy, which could negatively impact the performance of the EWU ETF that tracks U.K. equities.
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