Eurozone June PPI MoM -0.4% Vs -0.2% Est; YoY -3.4% Vs -3.2% Est
Portfolio Pulse from Charles Gross
The Producer Price Index (PPI) for the Eurozone in June fell by 0.4% month-on-month, more than the estimated 0.2% drop. Year-on-year, the PPI decreased by 3.4%, also more than the estimated 3.2% drop.
August 04, 2023 | 12:42 pm
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NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) may be impacted by the larger than expected drop in the Eurozone's PPI. This could indicate a weaker economy, potentially affecting the ETF's performance.
The PPI is a key economic indicator, reflecting the average changes in selling prices received by domestic producers for their output. A larger than expected drop could indicate a weaker economy, which could negatively impact the performance of ETFs like VGK that are exposed to the Eurozone market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80