Germany Manufacturing Purchasing Managers Index Preliminary For September 39.8 Vs. 39.5 Est.; 39.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Germany Manufacturing Purchasing Managers Index (PMI) for September is reported at 39.8, slightly higher than the estimated 39.5 and the prior figure of 39.1.
September 22, 2023 | 7:30 am
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POSITIVE IMPACT
The iShares MSCI Germany ETF (EWG) may be impacted by the higher than expected PMI figure for Germany's manufacturing sector in September.
The PMI is a key indicator of economic health, reflecting purchasing managers' acquisition of goods and services. A higher than expected PMI is generally seen as positive for the economy and could therefore have a positive impact on the EWG ETF, which tracks the performance of the German equity market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80