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Market Outlook of the Management


Business Outlook

In the first nine months of 2022, global economy continued to grow sharply as in 2021, thanks to the easing of pandemic restrictions and to national plans in support of the development of infrastructure, energy transition and digitalisation projects. The strong recovery of economic activity was accompanied by considerable inflationary pressure, triggered mainly by the increase in energy and commodity prices and supply chain disruptions, exacerbated by the war in Ukraine. To mitigate rising inflation, the main central banks began to pare back some monetary stimuli and to increase interest rates.