Germany Services Purchasing Managers Index For 47.3 August Vs. 43.7 Est.; 52.3 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's Services Purchasing Managers Index (PMI) for August was reported at 47.3, lower than the estimated 43.7 and the prior figure of 52.3.
September 05, 2023 | 7:58 am
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NEGATIVE IMPACT
The lower than expected PMI in Germany may negatively impact the performance of the iShares MSCI Germany ETF (EWG).
The iShares MSCI Germany ETF (EWG) tracks the performance of the German market. A lower than expected PMI indicates a slowdown in the services sector, which could negatively impact the overall market and thus the performance of the ETF.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK), which includes German stocks, may also be negatively impacted by the lower than expected PMI.
The Vanguard FTSE Europe ETF (VGK) includes German stocks in its portfolio. A lower than expected PMI in Germany could negatively impact these stocks and thus the performance of the ETF.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75