The Consumer Price Index (CPI) rose 8.3% year-over-year in August, surpassing economists’ estimates. Therefore, a third consecutive 75-bps interest rate hike could be on the way, which would take the benchmark rates to 3.00%-3.25%, the highest since early 2008.
Although rapid research and development, increased focus on advanced manufacturing technologies, and deployment of smart factories make the space sector’s long-term prospects bright, several companies operating in this space have been witnessing turbulence due to rising interest rates, skyrocketing inflation, and supply chain disruptions. Moreover, investments in this sector dropped 45% year-over-year in the second quarter.
