Reported Earlier, China Non-Manufacturing Purchasing Managers Index For October 50.6 Vs. 51.8 Est.; 51.7 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Non-Manufacturing Purchasing Managers Index (PMI) for October was reported at 50.6, lower than the estimated 51.8 and the prior figure of 51.7.
October 31, 2023 | 4:59 am
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NEGATIVE IMPACT
The lower than expected PMI in China may negatively impact the iShares China Large-Cap ETF (FXI), as it indicates a slowdown in the non-manufacturing sector.
The PMI is a key indicator of economic health. A lower than expected PMI indicates a slowdown in the non-manufacturing sector, which could negatively impact companies within the iShares China Large-Cap ETF (FXI).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80