U.K. Services Purchasing Managers Index Preliminary For October 51.8 Vs. 52.3 Est.; 52.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Services Purchasing Managers Index (PMI) for October came in at 51.8, below the estimated 52.3 and the previous month's 52.4. This indicates a slower expansion in the U.K. services sector.
October 24, 2024 | 8:37 am
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NEGATIVE IMPACT
The U.K. Services PMI for October was lower than expected, which may impact the iShares MSCI United Kingdom ETF (EWU) as it reflects the economic health of the U.K. services sector.
The U.K. Services PMI is a key indicator of economic health in the services sector. A lower than expected PMI suggests slower growth, which could negatively impact EWU as it is an ETF that tracks the U.K. market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50