Germany Manufacturing Purchasing Managers Index (July) 38.8 Vs. 38.8 Est.; 40.6 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's Manufacturing Purchasing Managers Index (PMI) for July remained at 38.8, matching estimates but lower than the previous month's 40.6.
August 01, 2023 | 8:02 am
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NEUTRAL IMPACT
Germany's PMI, a key economic indicator, remained at 38.8, which may impact the performance of the iShares MSCI Germany ETF (EWG).
The PMI is a significant economic indicator, and its stability at 38.8, although lower than the previous month, may influence investor sentiment towards the German market, and thus impact the EWG ETF, which tracks the performance of the German equity market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The Vanguard FTSE Europe ETF (VGK), which includes German equities, may also be influenced by Germany's steady PMI.
The PMI's stability may affect investor sentiment towards European equities, including those in Germany. As VGK includes German stocks, it may be influenced by these developments.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60