U.K. Manufacturing Purchasing Managers Index Preliminary 51.3 Vs. 49.5 Est.; 49.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) for the preliminary reading came in at 51.3, surpassing the estimated 49.5 and the prior reading of 49.1.
May 23, 2024 | 8:33 am
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POSITIVE IMPACT
The U.K. Manufacturing PMI preliminary reading of 51.3, which is higher than both the estimated 49.5 and the prior 49.1, indicates an expansion in the manufacturing sector. This positive data could boost investor confidence in the iShares MSCI United Kingdom ETF (EWU).
The higher-than-expected PMI reading suggests growth in the U.K. manufacturing sector, which is likely to positively impact the performance of the iShares MSCI United Kingdom ETF (EWU) as it reflects the overall health of the U.K. economy.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80