Germany Manufacturing PMI in January 2018
According to a report by Markit Economics, the Germany Manufacturing PMI showed improvement in January 2018. It stood at 61.1 compared to 63.3 in December 2017. It didn’t meet the preliminary market estimate of 61.2. The January PMI figure was marginally lower than its record high of 63.3 in December 2017.
The Germany Manufacturing PMI in January 2018 was mainly due to the following:
- Production volume and output rose at a weaker pace in January 2018.
- New business orders and export orders improved at a slower pace in January 2018.
- Employment in the manufacturing sector improved at a higher rate in January.
Performance of various ETFs in January
The iShares MSCI Germany ETF (EWG), which tracks the performance of Germany (DAX-INDEX), rose 6% in January 2018. The Vanguard FTSE Europe ETF (VGK), which tracks Europe’s (HEDJ) economic performance, rose 5.6% that month.
Weaker improvement in the Germany Manufacturing PMI compared to December 2017 is mainly due to rising uncertainty about the country’s political environment. However, the major indexes showed improved performances, mainly due to positive sentiment around the globe.
In the next part of this series, we’ll analyze the final Spain Manufacturing PMI for January 2018.