Germany Services PMI in April
According to data provided by Markit Economics, the Germany Services PMI (Purchasing Managers’ Index) stood at 55.4 in April 2017 compared to 55.6 in March 2017.
Let’s take a closer look at the Germany Services PMI for April 2017:
- Production output increased at a faster rate in April than March.
- New orders growth showed a weaker improvement.
- Business activity improved compared to the overall performance in the last 15 months.
- Employment grew at a moderate rate.
Performance of various ETFs
The iShares MSCI Germany (EWG), which tracks Germany’s economic performance, rose 3.3% in April 2017. The iShares MSCI EMU (EZU), which tracks the performance of the Eurozone (HEDJ) (FEZ) (IEV), rose 4.2%.
Leading indicators of Germany such as the services PMI, the Ifo Business Climate Index and the manufacturing PMI have been improving gradually since September 2016. All these factors are suggesting that the overall investment scenario in Germany is changing, and the economy is looking solid. It’s gradually recovering from the shock from the Brexit vote in June 2016. If these indicators continue to improve, we could have fund inflows into the German market.
In the next part of this series, we’ll analyze the performance of the France Services PMI in April 2017.