U.K. Construction Purchasing Managers Index For October 45.6 Vs. 46 Est.; 45 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Construction Purchasing Managers Index (PMI) for October was reported at 45.6, slightly higher than the previous month's 45 but lower than the estimated 46.
November 06, 2023 | 9:44 am
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NEGATIVE IMPACT
The lower than expected U.K. Construction PMI may negatively impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. market.
The U.K. Construction PMI is a leading indicator of economic health. A lower than expected figure suggests a slowdown in the construction sector, which could negatively impact the overall U.K. economy and, by extension, the performance of the EWU ETF that tracks it.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80