HIGHLIGHTS
September 14 2022
Global Markets
Yesterday’s stronger than expected US CPI release led to a hawkish shift in Fed rate tightening expectations. Against this background, the USD gained broadly, global equity markets came under pressure and UST yields soared, with the entire yield curve coming under flattening pressure amid concerns over a hard landing of the US economy.
Greece
The non-seasonally adjusted number of job vacancies – excluding primary sector and activities of households – more than doubled on an annual basis in Q2 2022 (from 12,181 to 27,246) reflecting a post-covid pick up in demand, especially in the sectors of services. During the same quarter, the index of wages cost (hourly labour costs) increased marginally by 0.8% YoY.
CESEE
Upward annual trends in short-term indicators of economic activity in Turkey decelerated significantly in July, with the pace of increase slowing to two-year lows. The retail sales volume rose by 2.0% YoY, whereas the industrial production index increased by 2.4% YoY.
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