GLOBAL & REGIONAL DAILY (Friday November 12 2021)
GLOBAL & REGIONAL DAILY
November 12 2021
Risk-on sentiment prevailed on the perception that elevated inflationary pressures will likely prove transitory. On the other hand, government bonds remained under pressure, while the USD retained a firm tone, as the higher-than-expected US CPI inflation data earlier this week continued to have an impact.
According to EC Autumn Economic Forecast, the real GDP growth estimation for 2021 has been revised upwards to 7.1% from 4.3% in the Summer Interim Forecast (Jul-21) driven primarily by domestic demand and a better-than-expected tourist season.
In the Autumn Forecast released y-day, the European Commission revised downwards its 2021 GDP growth forecast for Bulgaria to 3.8% from 4.6% in July and upwards that for Serbia, i.e. to 6.7% from 5.3% in May.
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