Eurozone Manufacturing Purchasing Managers Index July 42.7 Vs.43.5 Est.; 43.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for July is reported at 42.7, lower than the estimated 43.5 and the prior value of 43.4.
July 24, 2023 | 8:01 am
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NEGATIVE IMPACT
The lower than expected Eurozone Manufacturing PMI could negatively impact the Vanguard FTSE Europe ETF (VGK), which tracks the performance of the European stock market.
The Eurozone Manufacturing PMI is a key indicator of economic health. A lower than expected PMI suggests a slowdown in the manufacturing sector, which could negatively impact the overall European economy and, consequently, the performance of VGK.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80