U.K. Construction Purchasing Managers Index For August 50.8 Vs. 50.5 Est.; 51.7 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Construction Purchasing Managers Index (PMI) for August was reported at 50.8, slightly above the estimated 50.5 but lower than the prior month's 51.7.
September 06, 2023 | 8:30 am
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NEUTRAL IMPACT
The U.K. Construction PMI, which is slightly above estimates but lower than the previous month, may have a neutral to slightly negative impact on the iShares MSCI United Kingdom ETF (EWU).
The U.K. Construction PMI is a significant economic indicator that can influence investor sentiment towards U.K.-related assets. While the PMI beat estimates, it is lower than the previous month, indicating a slowdown in the construction sector. This could lead to neutral to slightly negative sentiment towards EWU, which tracks the U.K. market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75