U.K. Manufacturing Purchasing Managers Index For July 52.1 Vs. 51.8 Est.; 50.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Manufacturing Purchasing Managers Index (PMI) for July came in at 52.1, surpassing the estimated 51.8 and the prior month's 50.9. This indicates an expansion in the manufacturing sector.
August 01, 2024 | 8:54 am
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The U.K. Manufacturing PMI for July exceeded expectations, which is a positive indicator for the U.K. economy. This could lead to a short-term increase in the iShares MSCI United Kingdom ETF (EWU).
The better-than-expected PMI suggests an expansion in the U.K. manufacturing sector, which is likely to boost investor confidence in U.K. equities, including the iShares MSCI United Kingdom ETF (EWU).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80