Germany Services Purchasing Managers Index (Preliminary) For August 47.3 Vs. 51.5 Est.; 52.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Germany Services Purchasing Managers Index (PMI) for August is reported at 47.3, which is lower than the estimated 51.5 and the prior value of 52.3.
August 23, 2023 | 7:31 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The lower than expected PMI could negatively impact the iShares MSCI Germany ETF (EWG) as it indicates a slowdown in the German services sector.
The PMI is a key indicator of economic health. A lower than expected PMI indicates a slowdown in the services sector, which could negatively impact the performance of the ETF that tracks the German market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) could also be negatively impacted by the lower than expected PMI, as Germany is a significant part of the European economy.
Germany is a significant part of the European economy. A slowdown in the German services sector could negatively impact the performance of the ETF that tracks the European market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60