Eurozone Services Purchasing Managers Index (Preliminary) For August 48.3 Vs. 50.5 Est.; 50.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Eurozone Services Purchasing Managers Index (PMI) for August is reported at 48.3, lower than the estimated 50.5 and the prior value of 50.9.
August 23, 2023 | 8:03 am
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NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) could be impacted by the lower than expected Eurozone Services PMI for August.
The Vanguard FTSE Europe ETF (VGK) tracks the performance of the FTSE Developed Europe All Cap Index, which includes companies from developed European countries. A lower than expected Eurozone Services PMI indicates a slowdown in the services sector, which could negatively impact the performance of the companies in the index and therefore VGK.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80