HIGHLIGHTS
August 31 2023
Global Markets
US Q2 GDP was revised lower by 0.3ppts to an annualized rate of 2.1%, while the ADP report showed that the private sector generated 177k jobs in August, the smallest gain in the last five months. In reaction, USTs firmed, and the USD extended recent losses, helping the EUR/USD to briefly rise above 1.09 ahead of today’s Eurozone flash August CPI print.
Greece
According to ELSTAT, the overall industrial producer price index – a measure of the average movements of prices received by domestic producers for goods and services sold in the domestic and the foreign markets – in July 2023 decreased by 8.6% YoY (increased by 1.4% MoM) because of a decrease in the Energy producer prices by 17.2% YoY.
CESEE
In a modest decoupling tone with the economic sentiment indicator in the EU and the EA which both remain in a soft patch since January, regional sentiment appeared broadly improved in August with only a couple of economies marking meagre deterioration
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