Germany Factory Orders (MoM) For August 3.9% Vs. 1.8% Est.; -11.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for August have significantly exceeded estimates, coming in at 3.9% compared to the 1.8% estimate. This is a substantial improvement from the previous month's revised figure of -11.3%.
October 06, 2023 | 6:03 am
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POSITIVE IMPACT
The iShares MSCI Germany ETF (EWG) may be positively impacted by the better-than-expected factory orders in Germany for August.
The iShares MSCI Germany ETF (EWG) tracks the performance of the German equity market. The better-than-expected factory orders indicate a stronger economy, which could lead to improved performance of the German equity market and, consequently, a potential increase in the value of EWG.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80