U.K. Composite Purchasing Managers' Index For October 48.7 Vs. 48.6 Est.; 48.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Composite Purchasing Managers' Index (PMI) for October was reported at 48.7, slightly above the estimated 48.6 and the prior figure of 48.6. This indicates a marginal improvement in the U.K.'s economic activity.
November 03, 2023 | 9:32 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) could be impacted by the slight improvement in the U.K.'s PMI for October. A higher PMI could indicate a strengthening economy, which may positively affect the ETF.
The PMI is a measure of the economic health of the manufacturing sector. A higher PMI indicates a strengthening economy, which could lead to a rise in the value of assets related to that economy, such as the EWU ETF. However, the increase is marginal, so the impact may not be significant.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80