Eurozone Services Purchasing Managers Index For May 53.2 Vs. 53.3 Est.; 53.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Services Purchasing Managers Index (PMI) for May came in at 53.2, slightly below the estimated 53.3 and the prior month's 53.3.
June 05, 2024 | 8:13 am
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NEGATIVE IMPACT
The Eurozone Services PMI for May was slightly below expectations, which could indicate a minor slowdown in the services sector. This may have a short-term negative impact on the Vanguard FTSE Europe ETF (VGK).
The PMI is a key indicator of economic health in the services sector. A lower-than-expected PMI suggests a potential slowdown, which could negatively affect the performance of the Vanguard FTSE Europe ETF (VGK) in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50