Germany GfK Consumer Climate (August) -24.4 Vs. -24.7 Est.; -25.2 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's GfK Consumer Climate for August is reported at -24.4, slightly better than the estimated -24.7 and the previous -25.2.
July 27, 2023 | 6:07 am
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POSITIVE IMPACT
The better-than-expected GfK Consumer Climate in Germany may positively impact the iShares MSCI Germany ETF (EWG).
The GfK Consumer Climate is a leading indicator of consumer spending, which constitutes a significant part of economic activity. As EWG tracks the German stock market, positive economic indicators like this can lead to an increase in the ETF's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) may also be positively impacted by the better-than-expected GfK Consumer Climate in Germany.
VGK tracks the performance of a benchmark index that measures the investment return of stocks issued by companies located in the major markets of Europe. As Germany is a major economy in Europe, positive economic indicators from Germany can lead to an increase in the ETF's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60