MARKET WRAP: JSE muted as US output data surprises
ECB raises its benchmark rate by 75 basis points as expected but suggests further increases may not come as fast as feared
27 October 2022 - 20:06
The JSE closed little changed on Thursday after data showed the US economy grew at a faster-than-expected pace in the third quarter and the European Central Bank raised its benchmark interest rate for a third time this year.
US GDP expanded by an annualised 2.6% in the third quarter, higher than the market consensus estimate of 2.3%, ending two straight quarters of declining output and easing concerns about a recession in the world’s biggest economy...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.