U.K. Construction Purchasing Managers Index For July 51.7 Vs. 48 Est.; 48.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Construction Purchasing Managers Index (PMI) for July was reported at 51.7, significantly higher than the estimated 48 and the prior figure of 48.9.
August 04, 2023 | 2:52 pm
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be impacted by the higher than expected U.K. Construction PMI for July.
The U.K. Construction PMI is an economic indicator that can influence investor sentiment towards U.K.-related assets. A higher than expected PMI suggests a healthier construction sector, which could positively impact the U.K. economy and, by extension, U.K.-related assets such as the EWU ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75