France Services Purchasing Managers Index For September 49.6 Vs. 48.3 Est.; 55.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The France Services Purchasing Managers Index (PMI) for September was reported at 49.6, which is higher than the estimated 48.3 but lower than the previous month's 55.0. This indicates a contraction in the services sector, though less severe than expected.
October 03, 2024 | 7:56 am
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The France Services PMI for September at 49.6, though better than expected, indicates a contraction in the services sector. This could impact EWQ, an ETF focused on French equities, as it reflects economic conditions in France.
EWQ is an ETF that tracks French equities, and the PMI is a key economic indicator. A PMI below 50 suggests contraction, which could negatively impact French stocks. However, the figure is better than expected, which might mitigate some negative sentiment.
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