S&P Global / CIPS U.K. Construction Purchasing Managers Index For July 55.3 Vs. 52.5 Est.; 52.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global / CIPS U.K. Construction Purchasing Managers Index (PMI) for July came in at 55.3, significantly higher than the estimated 52.5 and the prior 52.2. This indicates a stronger-than-expected performance in the U.K. construction sector.
August 06, 2024 | 8:33 am
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POSITIVE IMPACT
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 July, which came in at 55.3 versus the estimated 52.5 and the prior 52.2.
The U.K. Construction PMI is a key indicator of economic health in the construction sector. A higher-than-expected PMI suggests robust activity, which can positively impact ETFs like EWU that are exposed to the U.K. market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80