France Manufacturing Purchasing Managers Index (July) 45.1 Vs. 44.5 Est.; 46 Prior
Portfolio Pulse from Benzinga Newsdesk
The France Manufacturing Purchasing Managers Index (PMI) for July is reported at 45.1, slightly higher than the estimated 44.5, but lower than the previous month's 46.
August 01, 2023 | 7:59 am
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NEGATIVE IMPACT
The iShares MSCI France ETF (EWQ) may be impacted by the lower than previous PMI, indicating a slowdown in the manufacturing sector.
The PMI is a key indicator of economic health, reflecting purchasing managers' acquisition of goods and services. A lower PMI than the previous month indicates a potential slowdown in the manufacturing sector, which could negatively impact the performance of the EWQ ETF that tracks French equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80