Eurozone S&P Global Composite Purchasing Managers Index (Preliminary) For August 47 Vs. 48.5 Est.; 48.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone S&P Global Composite Purchasing Managers Index (PMI) for August is reported at 47, lower than the estimated 48.5 and the prior 48.6.
August 23, 2023 | 8:03 am
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NEGATIVE IMPACT
The lower than expected PMI in the Eurozone may negatively impact VGK, an ETF that tracks European stocks.
The Purchasing Managers Index (PMI) is a key indicator of economic health. A lower than expected PMI suggests a slowdown in the Eurozone economy, which could negatively impact European stocks and, by extension, VGK, an ETF that tracks these stocks.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80