France Services Purchasing Managers Index July 47.4 Vs. 48.4 Est.; 48 Prior
Portfolio Pulse from Benzinga Newsdesk
France's Services Purchasing Managers Index (PMI) for July was reported at 47.4, lower than the estimated 48.4 and the previous month's 48. This indicates a contraction in the services 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 services sector.
The PMI is a key indicator of economic health. A lower than expected PMI indicates a contraction in the services 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