Eurozone Services Purchasing Managers Index July 51.1 Vs. 51.5 Est.; 52.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Services Purchasing Managers Index (PMI) for July came in at 51.1, lower than the estimated 51.5 and the prior figure of 52.0.
July 24, 2023 | 8:02 am
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NEGATIVE IMPACT
The lower than expected Eurozone Services PMI could negatively impact the Vanguard FTSE Europe ETF (VGK), which tracks the performance of the European stock market.
The Eurozone Services PMI is a key economic indicator that measures the activity level of purchasing managers in the services sector. A lower than expected figure suggests a slowdown in the services sector, which could negatively impact the overall European economy and, consequently, the performance of the VGK ETF, which tracks the European stock market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80