Reported Earlier, U.K. Services Purchasing Managers Index For August 53.7 Vs. 53.3 Est.; 52.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Services Purchasing Managers Index (PMI) for August was reported at 53.7, surpassing the estimated 53.3 and the previous month's 52.5. This indicates a stronger-than-expected expansion in the U.K. services sector.
September 04, 2024 | 9:34 am
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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. Services PMI, indicating robust growth in the services sector.
The U.K. Services PMI exceeding expectations suggests a healthier U.K. economy, which could positively influence the performance of EWU, an ETF focused on U.K. equities. This may lead to increased investor confidence and potential inflows into the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80