Eurozone Manufacturing Purchasing Managers Index Preliminary For July 45.6 Vs. 46.0 Est.; 45.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for July came in at 45.6, below the estimated 46.0 and the prior 45.8. This indicates a contraction in the manufacturing sector.
July 24, 2024 | 8:01 am
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The Eurozone Manufacturing PMI for July fell to 45.6, below expectations and the previous month's figure. This suggests a contraction in the manufacturing sector, which could negatively impact the Vanguard FTSE Europe ETF (VGK) that tracks European stocks.
The lower-than-expected PMI indicates a contraction in the Eurozone manufacturing sector, which could lead to a negative sentiment towards European stocks. VGK, which tracks these stocks, is likely to be impacted negatively in the short term.
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