Eurozone Manufacturing Purchasing Managers Index For July 45.8 Vs. 45.6 Est.; 45.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Manufacturing Purchasing Managers Index (PMI) for July came in at 45.8, slightly above the estimate of 45.6 and matching the prior month's figure of 45.8.
August 01, 2024 | 8:02 am
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NEUTRAL IMPACT
The Eurozone Manufacturing PMI for July was reported at 45.8, slightly above the estimate of 45.6. This could have a neutral to slightly positive impact on the Vanguard FTSE Europe ETF (VGK), which tracks European stocks.
The PMI figure being slightly above estimates suggests a marginally better-than-expected manufacturing environment in the Eurozone. However, the figure is still below 50, indicating contraction, which tempers the positive impact. VGK, which tracks European stocks, may see a neutral to slight positive impact as a result.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50