Germany Manufacturing Purchasing Managers Index For September 39.6 Vs. 39.8 Est.; 39.1 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's Manufacturing Purchasing Managers Index (PMI) for September was reported at 39.6, slightly below the estimated 39.8 and higher than the previous month's 39.1.
October 02, 2023 | 7:55 am
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NEUTRAL IMPACT
The iShares MSCI Germany ETF (EWG) could be impacted by the lower than expected PMI, although the figure is higher than the previous month.
The PMI is a key indicator of economic health, reflecting purchasing managers' acquisition of goods and services. A lower than expected PMI could indicate a slowing economy, which could negatively impact stocks. However, the fact that the PMI is higher than the previous month could mitigate this impact.
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