Market Quote : Concerns about the global economy which is struggling with high inflation and recession Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 05 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"Concerns about the global economy, which is struggling with high inflation and recession, were stoked by mixed job data from the US and a worsening energy situation in Europe. Strong employment in the US will give Fed the confidence to raise interest rates by another 50–75 bps in the forthcoming policy meetings. In anticipation of decrease in output, oil prices increased prior to the OPEC+ summit. Meanwhile, none of these has impacted the domestic market, which continues to hold an upbeat outlook, bolstered by strengthening local economic statistics and rising corporate demand."
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