CORRECTION: Eurozone Oct Mfg PMI 43.1 Vs 43.4 Est
Portfolio Pulse from Charles Gross
The Eurozone Manufacturing Purchasing Managers' Index (PMI) for October was reported at 43.1, lower than the estimated 43.4.
November 02, 2023 | 9:05 am
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NEGATIVE IMPACT
The lower than expected Eurozone PMI may 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 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