HIGHLIGHTS
October 3 2023
Global Markets
UST yields rose further yesterday, as the avoidance of a US government shutdown, strong US economic data releases and hawkish comments by Fed officials reinforced market expectations that the Fed will likely keep interest rates higher for longer. Meanwhile, the USD retained a firm tone.
Greece
According to the 2024 Draft Budget, submitted to Parliament yesterday, real GDP growth is anticipated at 2.3% in 2023 and 3.0% in 2024. Inflation is expected at 4.0% in 2023, moderating to 2.4% in 2024. The primary fiscal balance is set to further improve, with projections of 1.1% and 2.1% for 2023 and 2024, respectively.
CESEE
Mild improvement in Poland’s manufacturing PMI, after four months of continuing slide, still prospects remain frugal; preliminary fiscal data in Bulgaria point to fiscal loosening in Jan-Sep 2023 compared to the respective period in 2022.
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