Eurozone Services Purchasing Managers Index For July 50.9 Vs. 51.1 Est.; 52 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Services Purchasing Managers Index (PMI) for July was reported at 50.9, slightly below the estimated 51.1 and down from 52 in the previous month.
August 04, 2023 | 12:39 pm
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NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) could be impacted by the lower than expected Eurozone Services PMI for July, as it reflects the economic health of the region.
The Eurozone Services PMI is a key indicator of economic health in the region. A lower than expected figure suggests a slowdown in the services sector, which could negatively impact the performance of VGK, an ETF that tracks the performance of the European stock market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80