Germany Factory Orders (MoM) For January -11.3% Vs. -6.0% Est.; 12.0% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for January experienced a significant decline of 11.3%, which was a steeper drop than the estimated 6.0%. This follows a revised prior increase of 12.0%.
March 07, 2024 | 7:15 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The iShares MSCI Germany ETF (EWG) may face short-term negative impact due to the unexpected steep decline in Germany's factory orders for January.
As EWG tracks the investment results of an index composed of German equities, the significant underperformance in factory orders, a key economic indicator, could lead to bearish sentiment among investors, potentially affecting the ETF's performance in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80