U.K. Manufacturing Purchasing Managers Index Preliminary 45.2 Vs. 44.7 Est.; 44.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) preliminary reading came in at 45.2, slightly above the estimated 44.7 and the prior reading of 44.3.
October 24, 2023 | 8:36 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the higher than expected U.K. Manufacturing PMI reading.
The U.K. Manufacturing PMI is a leading indicator of economic health. A higher than expected reading is generally seen as positive (or bullish) for the GBP, and therefore positive for the EWU ETF, which tracks the investment results of an index composed of U.K. equities.
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