Eurozone Manufacturing Purchasing Managers Index (July) 42.7 Vs. 42.7 Est.; 43.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for July is reported at 42.7, which is in line with estimates but lower than the prior figure of 43.4.
August 01, 2023 | 8:05 am
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NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) may be impacted by the lower Eurozone Manufacturing PMI for July, as it reflects the economic health of the region.
The Eurozone Manufacturing PMI is a key indicator of economic health in the region. A lower PMI suggests a slowdown in manufacturing activities, which could negatively impact the performance of VGK, an ETF that tracks the equity performance of Europe.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80