U.K. Services Purchasing Managers Index For August 49.5 Vs. 48.7 Est.; 51.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Services Purchasing Managers Index (PMI) for August was reported at 49.5, lower than the estimated 48.7 and the prior figure of 51.5.
September 05, 2023 | 8:31 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected U.K. Services PMI could negatively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. market.
The U.K. Services PMI is a key indicator of economic health. A lower than expected figure suggests a slowdown in the services sector, which could negatively impact the overall U.K. market and, by extension, the performance of the EWU ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80