Germany Services Purchasing Managers Index Preliminary For September 49.8 Vs. 47.2 Est.; 47.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The preliminary Germany Services Purchasing Managers Index (PMI) for September is reported at 49.8, which is higher than the estimated 47.2 and the prior figure of 47.3.
September 22, 2023 | 7:31 am
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POSITIVE IMPACT
The iShares MSCI Germany ETF (EWG) may be impacted by the higher-than-expected Germany Services PMI for September.
The Germany Services PMI is a leading indicator of economic health. A higher-than-expected figure is generally seen as positive (or bullish) for the EUR, and therefore positive for the EWG ETF, which tracks the performance of the German equity market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100