Germany Services Purchasing Managers Index For October 48.2 Vs. 48 Est.; 50.3 Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's Services Purchasing Managers Index (PMI) for October was reported at 48.2, lower than the estimated 48 and the prior figure of 50.3.
November 06, 2023 | 9:16 am
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NEGATIVE IMPACT
The lower than expected PMI in Germany could negatively impact the iShares MSCI Germany ETF (EWG).
The PMI is a key indicator of economic health. A lower than expected PMI suggests a slowdown in the services sector, which could negatively impact the overall German economy and, by extension, the performance of the EWG ETF that tracks it.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100