HCOB Eurozone Composite Purchasing Managers Index Preliminary For October 49.7 Vs. 49.8 Est.; 49.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The HCOB Eurozone Composite Purchasing Managers Index (PMI) for October is reported at 49.7, slightly above the prior month's 49.6 but below the estimated 49.8. This indicates a slight contraction in the Eurozone economy.
October 24, 2024 | 8:05 am
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The Eurozone Composite PMI for October is 49.7, indicating a slight contraction in the Eurozone economy. This could impact VGK, an ETF focused on European stocks.
VGK is an ETF that tracks European stocks, and the Eurozone PMI is a key economic indicator for the region. A PMI below 50 suggests contraction, which could negatively impact European stocks and, consequently, VGK's performance.
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