Eurozone Services Purchasing Managers Index For August 47.9 Vs. 48.3 Est.; 50.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Services Purchasing Managers Index (PMI) for August was reported at 47.9, lower than the estimated 48.3 and significantly below the prior month's 50.9.
September 05, 2023 | 8:02 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected Eurozone Services PMI could negatively impact VGK, an ETF that tracks European stocks.
VGK, an ETF that tracks European stocks, could be negatively impacted by the lower than expected Eurozone Services PMI. A lower PMI indicates a slowdown in the services sector, which could lead to lower corporate earnings and thus lower stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80