U.K. Manufacturing Purchasing Managers Index Preliminary 51.8 Vs. 51.1 Est.; 50.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) for the preliminary reading came in at 51.8, higher than the estimated 51.1 and the prior reading of 50.9.
July 24, 2024 | 8:32 am
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POSITIVE IMPACT
The U.K. Manufacturing PMI preliminary reading of 51.8, higher than the estimated 51.1 and the prior 50.9, suggests a positive outlook for the U.K. economy, which could benefit the iShares MSCI United Kingdom ETF (EWU).
A higher-than-expected PMI indicates stronger manufacturing activity, which is a positive signal for the U.K. economy. This could lead to increased investor confidence in U.K.-focused ETFs like EWU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80