Germany Services Purchasing Managers Index (July) 52.3 Vs. 52 Est.; 54.1 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's Services Purchasing Managers Index (PMI) for July came in at 52.3, lower than the estimated 52 and the prior figure of 54.1.
August 04, 2023 | 12:38 pm
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NEGATIVE IMPACT
The lower than expected PMI could negatively impact the performance of the iShares MSCI Germany ETF (EWG).
The PMI is a key indicator of economic health. A lower than expected PMI suggests a slowdown in the services sector, which could negatively impact the performance of the iShares MSCI Germany ETF (EWG) as it is heavily invested in this sector.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The lower than expected PMI could also negatively impact the performance of the Vanguard FTSE Europe ETF (VGK).
The PMI is a key indicator of economic health. A lower than expected PMI suggests a slowdown in the services sector, which could negatively impact the performance of the Vanguard FTSE Europe ETF (VGK) as it includes German companies.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60