HCOB Germany Services Purchasing Managers Index Preliminary For July 52.0 Vs. 53.2 Est.; 53.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The HCOB Germany Services Purchasing Managers Index (PMI) for July came in at 52.0, below the estimated 53.2 and the prior 53.1. This indicates a slowdown in the growth of the services sector in Germany.
July 24, 2024 | 7:38 am
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The HCOB Germany Services PMI for July fell to 52.0, missing estimates and the previous month's figure. This slowdown in the services sector could negatively impact the iShares MSCI Germany ETF (EWG).
The lower-than-expected PMI indicates a slowdown in the services sector, which could lead to reduced investor confidence in German equities. As EWG tracks the performance of German stocks, it is likely to be negatively impacted.
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