France Manufacturing Purchasing Managers Index For August 46 Vs. 46.4 Est.; 45.1 Prior
Portfolio Pulse from Benzinga Newsdesk
France's Manufacturing Purchasing Managers Index (PMI) for August was reported at 46, slightly below the estimated 46.4, but higher than the previous month's 45.1.
September 01, 2023 | 7:50 am
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NEUTRAL IMPACT
The iShares MSCI France ETF (EWQ) could be impacted by the lower-than-expected PMI, although the figure is higher than the previous month.
The PMI is a key indicator of economic health, reflecting manufacturing sector conditions. A lower-than-expected PMI could negatively impact investor sentiment towards French stocks, potentially affecting the EWQ ETF. However, the fact that the PMI is higher than the previous month could mitigate this impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80