Germany Services Purchasing Managers Index For August 51.2 Vs. 51.4 Est.; 52.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The Germany Services Purchasing Managers Index (PMI) for August was reported at 51.2, below the estimated 51.4 and the previous month's 52.5. This indicates a slower expansion in the services sector.
September 04, 2024 | 8:01 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The Germany Services PMI for August came in at 51.2, below expectations and the previous month's figure, indicating slower growth in the services sector. This could impact the iShares MSCI Germany ETF (EWG), which is sensitive to economic indicators from Germany.
The iShares MSCI Germany ETF (EWG) is likely to be impacted by the lower-than-expected Germany Services PMI, as it reflects slower growth in a key sector of the German economy. This could lead to short-term pressure on the ETF's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80