Eurozone Manufacturing Purchasing Managers Index Preliminary For October 43 Vs. 43.7 Est.; 43.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for October is reported at 43, lower than the estimated 43.7 and the prior 43.4.
October 24, 2023 | 8:01 am
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NEGATIVE IMPACT
The lower than expected Eurozone Manufacturing PMI may negatively impact VGK, an ETF that tracks European stocks.
VGK, an ETF that tracks European stocks, may 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 a decrease in the value of European stocks, and consequently, VGK.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80