U.K. Services Purchasing Managers Index For July 51.5 Vs. 51.5 Est.; 53.7 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Services Purchasing Managers Index (PMI) for July was reported at 51.5, matching the estimated figure but lower than the prior figure of 53.7.
August 04, 2023 | 12:41 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The U.K. Services PMI for July, which came in at 51.5, matches the estimate but is lower than the previous month's figure. This could potentially impact the performance of the iShares MSCI United Kingdom ETF (EWU).
The U.K. Services PMI is a key indicator of economic health. A lower than previous figure suggests a slowdown in the services sector, which could negatively impact the U.K. economy and, by extension, the performance of the EWU ETF, which tracks the U.K. market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80