Eurozone Services Purchasing Managers Index For July 51.9 Vs. 51.9 Est.; 52.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The Eurozone Services Purchasing Managers Index (PMI) for July remained steady at 51.9, matching the estimate but down from the prior 52.8.
August 05, 2024 | 8:03 am
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NEUTRAL IMPACT
The Eurozone Services PMI for July remained steady at 51.9, matching estimates but down from the prior 52.8. This could indicate a stable but slightly slowing growth in the Eurozone services sector, potentially impacting the Vanguard FTSE Europe ETF (VGK).
The steady PMI suggests stable growth in the Eurozone services sector, which is a significant component of the VGK ETF. However, the slight decline from the previous month may indicate a minor slowdown, leading to a neutral short-term impact on VGK.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80