Germany Factory Orders (MoM) For February 0.2% Vs. 0.6% Est.; -11.3% Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for February showed a modest increase of 0.2% month-over-month, falling short of the 0.6% estimate but improving from the previous -11.3%.
April 05, 2024 | 6:02 am
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NEUTRAL IMPACT
The iShares MSCI Germany ETF (EWG) may see short-term impact due to the lower-than-expected increase in Germany's factory orders for February.
While the increase in factory orders indicates some level of economic recovery, the miss against expectations could temper optimism among investors in German assets, including the EWG ETF. However, the improvement from the previous month's significant decline suggests a neutral to slightly positive outlook, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75