Germany Unemployment Change For February 11K Vs. 6K Est.; -2K Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's unemployment change for February was reported at 11K, surpassing the estimated 6K and showing a significant increase from the previous month's -2K.
February 29, 2024 | 8:58 am
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NEGATIVE IMPACT
The reported increase in Germany's unemployment may lead to negative sentiment towards German equities, potentially impacting EWG.
The iShares MSCI Germany ETF (EWG) is directly influenced by economic indicators from Germany. An unexpected rise in unemployment could lead to concerns about economic growth and consumer spending in Germany, negatively affecting investor sentiment towards German equities, including those represented in EWG.
CONFIDENCE 75
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