S&P Global/CIPS U.K. Construction Purchasing Managers Index For January 48.8 Vs. 47.2 Est.; 46.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global/CIPS U.K. Construction Purchasing Managers Index (PMI) for January was reported at 48.8, surpassing the estimated 47.2 and the previous month's 46.8. This indicates a less severe contraction in the U.K. construction sector than anticipated.
February 06, 2024 | 10:18 am
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU), which includes companies from the U.K. construction sector, may see a positive impact due to the better-than-expected PMI data.
The PMI is a key economic indicator that can influence investor sentiment towards sectors and related ETFs. A higher-than-expected PMI suggests resilience in the construction sector, potentially leading to positive investor sentiment towards ETFs like EWU that have exposure to this sector.
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