Eurozone Manufacturing Purchasing Managers Index Preliminary For September 43.3 Vs. 44 Est.; 43.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for September was reported at 43.3, lower than the estimated 44 and the prior figure of 43.5.
September 22, 2023 | 8:03 am
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NEGATIVE IMPACT
The lower than expected Eurozone Manufacturing 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 Manufacturing PMI. A lower PMI indicates a slowdown in the manufacturing sector, which could lead to lower corporate earnings and thus lower stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80