HIGHLIGHTS
November 1 2022
Global Markets
Eurozone Q3 GDP growth and October inflation data surprised to the upside, suggesting that it is probably too early for the ECB to make a dovish pivot. Along similar lines, market hopes over an imminent Fed pivot are fading after a media report warned over upside risks for Fed rate tightening given the US’s lower sensitivity to higher rates.
Greece
Greece’s Economic Sentiment Indicator (ESI) decreased steeply to a 20-month low in October 2022, registering a value of 98.3 points from 104.9 points in September 2022; the retail trade volume index increased in August 2022 by 0.9% MoM / 4.3% YoY.
CESEE
In Serbia, real non-seasonally adjusted GDP growth decelerated to 1.1% YoY in Q3 2022 compared to 3.9% YoY in Q2 2022. The seasonally adjusted industrial production rose in September after two months of contraction and the increase in the retail turnover at constant prices accelerated.
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