Germany Factory Orders (MoM) For July -11.7% Vs. -4% Est.; 7.6% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for July have significantly dropped by 11.7%, compared to the estimated 4% and the revised prior of 7.6%.
September 06, 2023 | 6:01 am
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NEGATIVE IMPACT
The iShares MSCI Germany ETF (EWG) may be negatively impacted due to the significant drop in Germany's factory orders.
EWG tracks the performance of the German equity market. The significant drop in factory orders, which is a key economic indicator, could negatively impact the performance of the German equity market and, consequently, the ETF.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) may also be negatively impacted due to the significant drop in Germany's factory orders.
VGK tracks the performance of the European equity market. Given that Germany is a major economy in Europe, the significant drop in its factory orders could negatively impact the performance of the European equity market and, consequently, the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70