China Caixin Manufacturing Purchasing Managers Index (July) 49.2 Vs. 50.3 Est.; 50.5 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Caixin Manufacturing Purchasing Managers Index (PMI) for July came in at 49.2, lower than the estimated 50.3 and the prior figure of 50.5. This indicates a contraction in the manufacturing sector.
August 01, 2023 | 4:12 am
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The lower-than-expected PMI figure may negatively impact the iShares China Large-Cap ETF (FXI), as it suggests a slowdown in China's manufacturing sector.
The Caixin Manufacturing PMI is a key indicator of China's economic health. A lower-than-expected figure suggests a contraction in the manufacturing sector, which could negatively impact the performance of the iShares China Large-Cap ETF (FXI), as it is heavily invested in large Chinese companies, many of which are in the manufacturing sector.
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