WOOD Flash – Eurozone macro: December data better than expected
The December survey results released by the European Commission turned out better than we had expected across sectors: hiring appetite improved across countries and sectors, adding to our expectations that the labour market will stay resilient throughout the economic downturn. The industrial sector also posted an improvement, notwithstanding companies reporting rising inventories and falling pricing power in the near term, confidence rose on the expectation of recovering orders. The preliminary estimates of December inflation and the surveys available brought some positive news, confirming slowing inflation – possibly even faster than expected in the near term. Our assessment of the latest data is that the GDP could outperform expectations in the very near term, but significant risks of a sluggish GDP outlook remain, because the inflation problem is ameliorating, but is far from being resolved.
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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