U.K. Composite Purchasing Managers' Index Preliminary 46.8 Vs. 48.7 Est.; 48.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Composite Purchasing Managers' Index (PMI) preliminary reading came in at 46.8, lower than the estimated 48.7 and the prior reading of 48.6. This indicates a contraction in the U.K. economy.
September 22, 2023 | 8:32 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected U.K. PMI reading may negatively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. market.
The PMI is a key indicator of economic health. A lower than expected reading indicates contraction in the economy, which can negatively impact the performance of the U.K. market and, consequently, the EWU ETF that tracks it.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100