HIGHLIGHTS
December 22 2022
Global Markets
The US Conference Board’s index of consumer confidence halted a two-month declining streak in December and increased to an eight-month high of 108.3, fueling market optimism of a soft landing for the US economy. Against this backdrop, risk-on sentiment improved, while the DXY USD index retained a weak tone.
Greece
The Bank of Greece’s estimate for the 2022 real GDP growth rate at 6.2% does not include the recent ELSTAT revision of real GDP for 2022:Q3. The real GDP growth rate for 2023, 2024, and 2025 is expected at 1.5%, 3.0% and 2.8% respectively
CESEE
In Turkey, despite the unconventional monetary policy, the international investment position (IIP) shows signs of improvement in the recent period. In October, liabilities against non-residents were 0.4% higher compared to end-2021 (at $545.9bn), mainly because other investments expanded YtD by 4.5%, to $319.1bn.
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