S&P Global/CIPS U.K. Services Purchasing Managers Index Preliminary For August 53.3 Vs. 52.8 Est.; 52.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global/CIPS U.K. Services Purchasing Managers Index (PMI) for August came in at 53.3, surpassing the estimated 52.8 and the previous month's 52.5. This indicates an expansion in the U.K. services sector.
August 22, 2024 | 8:38 am
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POSITIVE IMPACT
The U.K. Services PMI for August exceeded expectations, which could positively impact the iShares MSCI United Kingdom ETF (EWU) as it reflects growth in the U.K. services sector.
The U.K. Services PMI is a key indicator of economic health in the services sector. A higher than expected PMI suggests growth, which can lead to increased investor confidence in U.K. equities, potentially benefiting EWU.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70