HIGHLIGHTS
August 11 2022
Global Markets
In reaction to weaker than expected US July inflation data, global risk sentiment improved and the USD weakened sharply. Meanwhile, USTs gave back most of the post-CPI gains after several FOMC officials reminded investors that the Central Bank will continue to raise rates as inflation pressures are still elevated.
Greece
According to ELSTAT, the overall industrial production index (IPI) increased by 8.4% YoY in June, up from 3.2% YoY in May, driven by increases in the electricity supply index (+13.2%), the manufacturing index (+7.6%) and the mining and quarrying index (+7.1%).
CESEE
In Bulgaria, retail sales growth decelerated to 0.1% YoY in June from 5.0% YoY in May, on the back of falling food sales (-3.1% YoY compared to +0.7% in May) and easing non-food sales growth (i.e., +1.3% YoY from +7.2% YoY in May).
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