Germany Unemployment Change For August 18K Vs. 10K Est.; -4K Prior; Unemployment Rate For August 5.7% Vs. 5.7% Est.; 5.6% Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's unemployment change for August was 18K, higher than the estimated 10K and the previous -4K. The unemployment rate for August remained steady at 5.7%, matching estimates but slightly higher than the previous 5.6%.
August 31, 2023 | 7:58 am
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NEGATIVE IMPACT
The higher than expected unemployment change in Germany may negatively impact the performance of the iShares MSCI Germany ETF (EWG).
EWG tracks the performance of the German equity market. Higher unemployment could indicate a weaker economy, which may negatively impact the performance of the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The unemployment data from Germany, a major economy in Europe, may also impact the performance of the Vanguard FTSE Europe ETF (VGK).
VGK tracks the performance of the European equity market. As Germany is a major economy in Europe, its unemployment data could impact the performance of the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60