China Composite Purchasing Managers' Index (July) 51.1 Vs. 52.5 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Composite Purchasing Managers' Index (PMI) for July has dropped to 51.1 from 52.5 in the previous month.
July 31, 2023 | 5:13 am
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NEGATIVE IMPACT
The drop in China's PMI may negatively impact the iShares China Large-Cap ETF (FXI) as it indicates a slowdown in economic activity.
The PMI is a key indicator of economic health. A drop in PMI indicates a slowdown in economic activity, which can negatively impact the performance of ETFs like FXI that are heavily invested in Chinese companies.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100