France Services Purchasing Managers Index Preliminary For October 48.3 Vs. 49.8 Est.; 49.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The France Services Purchasing Managers Index (PMI) for October was reported at 48.3, below the estimated 49.8 and the prior 49.6. This indicates a contraction in the French services sector.
October 24, 2024 | 7:33 am
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The France Services PMI for October was lower than expected, indicating a contraction in the services sector. This could negatively impact the iShares MSCI France ETF (EWQ), which is exposed to the French economy.
The iShares MSCI France ETF (EWQ) is likely to be impacted by the contraction in the French services sector, as indicated by the lower-than-expected PMI. This suggests potential economic challenges in France, which could weigh on the ETF's performance.
CONFIDENCE 80
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RELEVANCE 50