U.K. Manufacturing Purchasing Managers Index Preliminary 51.4 Vs. 51.3 Est.; 51.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) for the preliminary reading came in at 51.4, slightly above the estimated 51.3 and the prior reading of 51.2.
June 21, 2024 | 8:33 am
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POSITIVE IMPACT
The U.K. Manufacturing PMI preliminary reading of 51.4, which is above the estimated 51.3 and the prior 51.2, suggests a slight improvement in the manufacturing sector. This could positively impact the iShares MSCI United Kingdom ETF (EWU) in the short term.
The PMI reading is a key indicator of the economic health of the manufacturing sector. A higher-than-expected PMI suggests expansion and could lead to positive investor sentiment towards U.K. equities, including the EWU ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50