Germany Manufacturing Purchasing Managers Index Preliminary For June 43.4 Vs. 46.4 Est.; 45.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Germany Manufacturing Purchasing Managers Index (PMI) for June came in at 43.4, significantly below the estimated 46.4 and the prior 45.5. This indicates a contraction in the manufacturing sector.
June 21, 2024 | 7:45 am
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NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) may be impacted by the lower-than-expected Germany Manufacturing PMI, as Germany is a significant component of the European economy.
The Vanguard FTSE Europe ETF (VGK) includes significant exposure to German equities. A contraction in Germany's manufacturing sector, as indicated by the lower-than-expected PMI, could negatively impact the ETF's performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50