Germany Services Purchasing Managers Index For May 54.2 Vs. 53.9 Est.; 53.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The Germany Services Purchasing Managers Index (PMI) for May came in at 54.2, surpassing the estimated 53.9 and the prior month's 53.2. This indicates an expansion in the services sector.
June 05, 2024 | 8:12 am
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The Germany Services PMI for May exceeded expectations, which is a positive indicator for the German economy. This could lead to a short-term increase in the price of the iShares MSCI Germany ETF (EWG).
The better-than-expected PMI suggests a stronger services sector in Germany, which is likely to boost investor confidence in German equities, positively impacting the EWG ETF.
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