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.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80