U.K. Manufacturing Purchasing Managers Index For August 43 Vs. 42.5 Est.; 45.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) for August was reported at 43, lower than the estimated 42.5 and the prior figure of 45.3.
September 01, 2023 | 8:30 am
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The lower than expected U.K. Manufacturing PMI could negatively impact the iShares MSCI United Kingdom ETF (EWU) as it indicates a slowdown in the manufacturing sector.
The U.K. Manufacturing PMI is a key indicator of economic health. A lower than expected figure suggests a slowdown in the manufacturing sector, which could negatively impact the performance of the iShares MSCI United Kingdom ETF (EWU) as it is heavily influenced by the U.K. economy.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80