France Services Purchasing Managers Index For July 50.1 Vs. 50.7 Est.; 49.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The France Services Purchasing Managers Index (PMI) for July came in at 50.1, slightly below the estimated 50.7 and up from the prior 49.6.
August 05, 2024 | 7:58 am
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NEUTRAL IMPACT
The France Services PMI for July was reported at 50.1, which is below the estimated 50.7 but an improvement from the prior 49.6. This indicates a slight expansion in the services sector, which could have a mixed impact on the iShares MSCI France ETF (EWQ).
The PMI reading of 50.1 suggests a slight expansion in the services sector, which is positive compared to the prior month. However, it is below the market expectation of 50.7, which could temper investor enthusiasm. Overall, the impact on EWQ is likely to be neutral in the short term.
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