PRESS ROOM
Stocks under pressure from economic data and Federal Reserve concerns
Friday 26th August '22
US Composite Purchasing Managers’ Index (PMI) came at 45 in August registering a second consecutive month of contraction in total business activity across services and manufacturing. This has dented risk sentiment ahead of the US Federal Reserve’s Jackson Hole economic policy symposium (25-27 August). We note, however, that if weaker economic data impels the Federal Reserve to become less hawkish, this is likely to be welcomed by equity markets.