U.K. Composite Purchasing Managers' Index For September 48.5 Vs. 46.8 Est.; 48.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Composite Purchasing Managers' Index (PMI) for September services was reported at 48.5, slightly higher than the estimated 46.8, but lower than the prior 48.6.
October 04, 2023 | 8:30 am
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NEUTRAL IMPACT
The U.K. Composite PMI for September services, which is slightly higher than estimated but lower than the prior, may have a neutral impact on the iShares MSCI United Kingdom ETF (EWU).
The U.K. Composite PMI is a key indicator of economic health. The fact that it is slightly higher than estimated suggests some resilience in the services sector, which could be positive for EWU. However, it is lower than the prior, indicating a potential slowdown, which could be negative. Therefore, the overall impact on EWU is likely to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75