S&P Global/CIPS U.K. Composite Purchasing Managers' Index Preliminary For August 53.4 Vs. 52.9 Est.; 52.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global/CIPS U.K. Composite Purchasing Managers' Index (PMI) for August came in at 53.4, surpassing both the estimated 52.9 and the previous month's 52.8. This indicates a stronger-than-expected expansion in the U.K. economy.
August 22, 2024 | 8:37 am
News sentiment analysis
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POSITIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may see a positive impact due to the stronger-than-expected U.K. Composite PMI, indicating economic expansion.
The U.K. Composite PMI exceeding expectations suggests economic growth, which is likely to positively influence the performance of EWU, an ETF focused on U.K. equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80