WOOD Flash – Greece macro: 2Q GDP – first impression
On a seasonally-adjusted basis, real GDP expanded by 1.7% yoy in 2Q, less than the 2.2% yoy in 1Q. In our view, although the headline number appears somewhat underwhelming, it is in line with our forecast and the breakdown reveals some bright spots. The monthly data for 3Q, in our view, suggests that economic activity maintained the current pace of expansion over the summer. The performance of Greece is coherent with what we see unfolding across the EU: the expansion is steady, at a modest rate. Alas, we see no strong signals of an acceleration, going forward, but at least the US tariff uncertainty is not causing any 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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