France Manufacturing Purchasing Managers Index Preliminary For September 43.6 Vs. 46 Est.; 46 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Manufacturing Purchasing Managers Index (PMI) for France in September is reported at 43.6, lower than the estimated 46 and the prior figure of 46.
September 22, 2023 | 7:16 am
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NEGATIVE IMPACT
The lower than expected PMI in France could negatively impact the iShares MSCI France ETF (EWQ) in the short term.
The Manufacturing PMI is a significant economic indicator, reflecting the health of the manufacturing sector. A lower than expected PMI suggests a contraction in the manufacturing sector, which could negatively impact the overall economy and, consequently, the performance of the EWQ ETF, which tracks the French market.
CONFIDENCE 85
IMPORTANCE 75
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