Timely Indicator of Economic Activity – Signs of moderation at the start of 4Q22

  • September’s estimate was revised up to 0.1% m/m (4.8% y/y sa), with additional strength in services

  • October’s figure came in also at 0.1% m/m (5.0% y/y sa), with both industry and services advancing

  • Results signal that 3Q22 GDP could stand at 0.9% q/q (4.0% y/y nsa), while activity would moderate in 4Q22

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