Germany services PMI in June
According to data provided by Markit Economics, the final Markit Germany Services PMI (Purchasing Managers’ Index) stood at 54.0 in June 2017 compared to 55.4 in May 2017. That meets the preliminary market estimate of 53.7. It was the lowest number since January 2017.
The services PMI included the following:
- Production output showed weaker improvement in June 2017 compared to May.
- New business orders improved at a slower rate in June.
- Employment grew at a weaker rate in June.
Performance of ETFs
The iShares MSCI Germany (EWG), which tracks the performance in Germany, fell marginally in June 2017. The iShares MSCI EMU (EZU), which tracks the performance of the Eurozone (HEDJ) (FEZ) (IEV), also fell marginally, nearly 0.40%, during the month.
Among various sectors of the economy, financial, transportation, and storage showed improvement in business activity. However, other sectors also showed a fall in business activity, mainly due to a fall in international demand. However, the domestic economy is doing well. Germany’s ifo Business Climate Index is on a constant rise, which shows that the economic environment is changing gradually.
In the next part of this series, we’ll analyze the performance of the France Services PMI in June 2017.