S&P Global / CIPS U.K. Construction Purchasing Managers Index For May 54.7 Vs. 52.5 Est.; 53.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global / CIPS U.K. Construction Purchasing Managers Index (PMI) for May came in at 54.7, surpassing the estimated 52.5 and the previous month's 53.0. This indicates a stronger-than-expected performance in the U.K. construction sector.
June 06, 2024 | 9:16 am
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The iShares MSCI United Kingdom ETF (EWU) is likely to see a positive impact due to the stronger-than-expected U.K. Construction PMI for May, which came in at 54.7 against an estimate of 52.5 and a prior 53.0.
The better-than-expected PMI indicates robust performance in the U.K. construction sector, which is a positive signal for the broader U.K. economy. This is likely to benefit EWU, which tracks the performance of U.K. equities.
CONFIDENCE 90
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