U.K. Services Purchasing Managers Index For October 49.5 Vs. 49.2 Est.; 49.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Services Purchasing Managers Index (PMI) for October was reported at 49.5, slightly higher than the estimated 49.2 and the prior figure of 49.2.
November 03, 2023 | 9:33 am
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POSITIVE IMPACT
The U.K. Services PMI for October, which came in higher than expected, may have a positive impact on the iShares MSCI United Kingdom ETF (EWU).
The U.K. Services PMI is a key indicator of economic health. A higher than expected figure suggests that the service sector is performing better than anticipated, which could lead to increased investor confidence in U.K.-related assets, such as the EWU ETF.
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