Central Europe / Data
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
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Slovak inflation eased further to 2.3% in March
Prices in the alcohol and tobacco sector increased by 19% y/y, including the 9.1% spike in tobacco prices as a result of the new consumption tax.
Polish inflation eases further to 2% y/y in March
The inflation rate landed within the National Bank of Poland’s target of 1.5%-3.5% for a second successive month
CEE falling inflation trend comes to an end
After spiking to 20-year highs thanks to the pandemic and Europe’s Russian induced energy crisis, inflation rates across the EU have tumbled in recent months. That trend has ended and CEE central banks are expected to hike rates again in 2H24.
Hungary’s CPI edges lower, but price pressures remain in service sector
Consumer prices in Hungary rose 3.6% y/y in March, but services' prices rose almost 10%.
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Slovak industry stagnates in February
Industrial production increased by 0.4% month-on-month.
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Czech inflation stagnated at 2% in March
Consumer price indices (inflation) in Czechia remained at 2% in March, the same year-on-year growth as in February, which is the lowest inflation rate since December 2018.
Where Nato has an enhanced forward presence
On Monday, 8 April, Germany sent an advance team of 20 soldiers to Lithuania, laying the groundwork for the recently discussed establishment of a permanent brigade in the Nato country, Statista reports.
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Czech unemployment inched down to 3.9% in March
Czech has long been the country with the lowest unemployment level in the EU.
Grid bottlenecks on the way in Europe?
A new analysis by the energy think-tank Ember has found that several countries in Europe could soon face bottlenecks in their national transmission energy grids, as more solar and wind power will be generated than these networks have capacity for.
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Czech industrial production increased by 0.7% y/y in February
The country’s robust car sector pushed an otherwise unconvincing result into growth.
Summer starts as EU gas tanks start to fill again
Winter is over, as the EU gas tanks switch from withdrawals to filling mode again in preparation for next winter. Injection into the gas tanks started on April 1, a week earlier than in 2023 and started at an all-time high record level of 59.3% full.
Polish manufacturers remain in downbeat mood in March
Poland's Purchasing Managers' Index (PMI) inched up 0.1 points to 48 in March (chart), the economic intelligence company S&P Global said on April 2.
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Czech PMI continues to inch upward in March
Czechia’s Manufacturing Purchasing Managers’ Index, compiled by market intelligence company S&P Global, continued to inch upward in March, posting 46.2.
Poland’s CPI growth eases to 1.9% y/y in March, flash estimate shows
Polish CPI grew 1.9% year on year in March (chart), below the consensus line of 2.1% y/y and 1.1pp below the February reading, a flash estimate from Poland’s statistical office GUS showed on March 29.
Polish chocolate exports third largest in EU last year
Poland exported 115,000 tonnes or 13% of the EU’s total chocolate exports in 2023.
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Revised data show Czech GDP dropped in 2023 by 0.2%
Czech GDP increased in the fourth quarter by 0.4% quarter on quarter and by 0.2% year on year following a revision by the Czech Statistical Office.
Labour costs in Western Europe still four times higher than in Romania and Bulgaria
Bulgaria has the EU's lowest labour cost, while Romania still lags well behind Poland and Hungary.
Romania's GDP per capita surpassed Hungary's in 2023
Romania has been catching up with the EU average faster than Hungary, which fell into recession in 2023.
Hungarian central bank cuts base rate by 75bp to 8.25%
Policymakers had discussed three options, a 50bp, 75bp and 100bp cut, and decided unanimously on the 75bp one, deputy governor Barnabas Virag said after the rate decision.