Fynsa
It is increasingly important to give clear signals to the private sector so that, through greater investment, existing jobs can be generated or maintained.
In the absence of further information, we do not necessarily agree with the market reaction, which improved its estimates for 2023.
As usual, I wanted to summarize our main projections for 2023, at the risk of being overcharged in twelve months' time.
The "more positive" news on inflation has been well received and will revive trade based on a "policy pivot".
August's surprise does not even give reason to hope for a softer deceleration: we preliminarily estimate a variation of Imacec in September between -2% and -1.5% YoY.
Although the "less bad" Imacec data would avoid technical recession, this does not mean that there is reason for optimism.
