France Manufacturing Purchasing Managers Index July 44.5 Vs. 46 Est.; 46 Prior
Portfolio Pulse from Benzinga Newsdesk
France's Manufacturing Purchasing Managers Index (PMI) for July came in at 44.5, lower than the estimated 46 and the prior figure of 46. This indicates a contraction in the manufacturing sector.
July 24, 2023 | 7:16 am
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NEGATIVE IMPACT
The lower than expected PMI could negatively impact the iShares MSCI France ETF (EWQ) as it indicates a contraction in the French manufacturing sector.
The PMI is a key indicator of economic health. A lower than expected PMI indicates a contraction in the manufacturing sector, which could negatively impact companies within the iShares MSCI France ETF (EWQ).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) could also be negatively impacted by the lower than expected PMI in France, as France is a significant part of the European economy.
The PMI is a key indicator of economic health. A lower than expected PMI in France, a significant part of the European economy, could negatively impact companies within the Vanguard FTSE Europe ETF (VGK).
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60