France Services Purchasing Managers Index Preliminary For September 43.9 Vs. 46 Est.; 46 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary France Services Purchasing Managers Index (PMI) for September is reported at 43.9, lower than the estimated 46 and the prior figure of 46. This indicates a contraction in the French service sector.
September 22, 2023 | 7:16 am
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NEGATIVE IMPACT
The lower than expected PMI may negatively impact the iShares MSCI France ETF (EWQ) as it indicates a contraction in the French service sector.
The France Services PMI is a leading indicator of economic health. A lower than expected figure indicates contraction in the service sector, which could negatively impact the performance of companies within the iShares MSCI France ETF (EWQ).
CONFIDENCE 85
IMPORTANCE 75
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