November 15, 2022
United States:
Economists See US Inflation Running Even Hotter Through Next Year
Economists see US inflation running hotter through next year than they did a month ago and recession odds continue to mount against a backdrop of rising borrowing costs.
Projections for the personal consumption expenditures price index — the Federal Reserve’s preferred inflation metric — were raised for each quarter of 2023. Still, price pressures are seen cooling sharply over the course of the year. By the final three months, the PCE price index will average 2.8% in the wake of sluggish economic activity and higher interest rates.
Europe:
Economic Slowdown Worsens in EU’s East as Inflation Surge Hits
Economies in the European Union’s east slowed in the third quarter as consumers were hit by spiking energy costs triggered by Russia’s war in neighboring Ukraine and soaring interest rates.
Gross domestic product in Poland, the region’s biggest economy, grew 3.5% in the July-to-September period, down from 5.5% in the previous quarter, data showed on Tuesday. Output in Romania and Hungary both slowed to 4% from 5.1% and 6.5% respectively.
Asia:
Everything Is Suddenly Going Right for China’s Stock Market
After being the world’s worst performer for much of this year, a key index of Chinese stocks is the biggest gainer so far in November.
From Covid controls to the property crisis and even US-China relations, the tide seems to be turning on all the major issues that have hammered the equity market in the world’s second largest economy for almost two years. The fear of missing out on what’s shaping up to be an epic rebound has triggered a buying frenzy.
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