WOOD Flash - EME Macro/Strategy: Don’t fret over soft August sentiment
Business and consumer confidence softened in August across many countries. The details of the survey results do not genuinely signal serious concerns about the recovery, in our view, but rather a slowing down of the pace of the recovery due to multiple constraints: inflation is deterring consumers; shortages of labour, material and financial constraints are weighing on some sectors, including construction; and the industrial recovery has been so strong in the past year that it is returning to more sustainable levels. Given the message of the latest surveys and our expectation of unfolding credit stimulus, coupled with generous, but less plentiful, monetary and fiscal stimulus we remain very constructive about the economic outlook.
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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