France Manufacturing Purchasing Managers Index (PMI) Preliminary For October 42.6 Vs. 44.4 Est.; 44.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Manufacturing Purchasing Managers Index (PMI) for France in October is reported at 42.6, lower than the estimated 44.4 and the prior figure of 44.2.
October 24, 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) as it indicates a contraction in the manufacturing sector.
The PMI is a significant economic indicator reflecting the health of the manufacturing sector. A lower than expected PMI indicates a contraction in the sector, which could negatively impact the performance of companies within the sector and, consequently, the ETF that tracks them.
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