Germany Factory Orders (MoM) For June 3.9% Vs. 0.4% Est.; -1.6% Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for June increased by 3.9% month-over-month, significantly surpassing the estimated 0.4% and recovering from the previous month's decline of 1.6%.
August 06, 2024 | 6:01 am
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POSITIVE IMPACT
The iShares MSCI Germany ETF (EWG) is likely to see a positive impact due to the significant increase in Germany's factory orders for June, which rose by 3.9% MoM, far exceeding expectations.
The substantial increase in factory orders indicates a stronger-than-expected recovery in Germany's manufacturing sector, which is a positive signal for the German economy. This is likely to benefit the iShares MSCI Germany ETF (EWG), which tracks the performance of the German equity market.
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IMPORTANCE 70
RELEVANCE 80