Germany Factory Orders (MoM) For August -5.8% Vs. -1.9% Est.; 3.9% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Germany's factory orders for August fell by 5.8%, significantly worse than the estimated decline of 1.9%. This follows a revised increase of 3.9% in the previous month.
October 07, 2024 | 6:03 am
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NEGATIVE IMPACT
The iShares MSCI Germany ETF (EWG) may be negatively impacted by the sharp decline in Germany's factory orders for August, which fell by 5.8% against an expected 1.9% drop.
EWG, an ETF that tracks German equities, is likely to be affected by the significant drop in factory orders, as it indicates potential economic slowdown in Germany, impacting the performance of companies within the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80