EME Macro/Strategy: Labour market beginning to crack
The September sentiment data showed patches of improvements among central Europe, but carried on dropping in the Euro area and was down heavily in Turkey. Among the countries that reported an improvement, it was due to industrial export expectations being up mildly and expected pricing power rising, on top of continuing strength in the construction sector. The broader dynamics driving the European growth slowdown remain visible: household confidence is falling, trade has weakened. Importantly, the duration of order books – the number of months of secured orders in the industrial and construction sectors – is still rising everywhere, which should help keep a modest pace for the economic slowdown.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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