Data
Europe’s gas storage on track to meet 80% full by start of heating season
Europe’s gas storage tanks were 58.23% full as of June 26 and are still on course to hit the EU target of 80% full by October 1, the traditional start of the heating season, despite Russian cuts in gas flows to Europe this month.
Kosovo’s population dropped to 1.77mn in 2021 as emigration outweighed natural increase
Kosovans who returned home when the pandemic spread across Europe in spring 2020 went abroad again in 2021.
North Macedonia’s PPI jumps 21.7% y/y in May
PPI growth across all sectors continues trend present in North Macedonia since February 2021.
IMF says war in Ukraine, inflation and energy crisis pose challenges to Serbia’s economy
Serbia demonstrated resilience during the COVID-19 pandemic but the IMF has now cut its GDP growth forecast to 3.5% for 2022.
Poland’s unemployment rate falls to lowest point since 1990
Poland’s unemployment rate slid 1pp y/y to 5.1% in May.
Hungary’s jobless rate inches down to 3.5% in May
Hungary's jobless rate would be closer to 5% if workers in public work schemes were included.
Polish retail sales growth eases to 8.2% y/y in May
Consumption trends are normalising after disruption caused by the inflow of Ukrainian refugees and the low base effect from last year.
Ruble rises to seven-year high, best performing currency in the world
Russia’s ruble jumped 6% against the euro on June 21 to a seven-year high, making it the best performing currency in the world.
Polish PPI inflation accelerates to 24.7% y/y in May
The index grew sharply due to expensive energy commodities and industrial metals, their prices driven up by the war in Ukraine.
Bulgaria posts highest inflation in SEE amongst EU peers
Bulgaria posted the highest level of inflation in Southeastern Europe amongst EU members after annual inflation hit 13.4% in May, as the whole world fights to avoid stagflation
Moldova’s industrial production rises by 0.2% y/y in 4M22 despite disappointing April figures
Figures for industrial sectors vary widely with a 42.6% for food processing as Moldova substitutes for lost imports from Ukraine, and a 50% fall in production of electric equipment in January-April.
Slovak unemployment rate at its lowest level since 2020
Unemployment went down by 0.19 percentage points to 6.35% in May.
Romania’s construction activity up a mere 1% y/y in January-April
Rising cost of construction materials and the inelastic supply of workers are significant deterrents to the sector’s growth.
Ukrainians expect conflict to intensify – RIWI
Fresh data show that Ukrainians expect the fighting to intensify in the coming weeks. Russian internet users also expect the conflict to worsen, although they don't expect the escalation to be as intense as their Ukrainian peers.
Bucharest stock exchange indices fall in 2022 as international uncertainty takes its toll
Most of the Bucharest Stock Exchange indices ended the first five months of 2022 in negative territory, as Russia's invasion of neighbouring Ukraine impacted the Romanian market.
Bulgaria’s inflation hits new record of 15.6% y/y in May
Inflation has been rising for 15 consecutive months but started speeding up recently due to surging energy prices.
Slovak inflation rate hits 22-year high in May
Slovak inflation hit 12.6% in May, up for the sixteenth consecutive month. Monthly growth of consumer prices was 1.6% in May.
North Macedonia’s central bank raises key rate by 0.25 pp for the third time
Three consecutive months of hikes bring the key rate to 2% in a bid to maintain price stability.
Copper prices set to rise as supply lags
Demand for copper is set to increase as the green transition accelerates, but some of the world's biggest copper-producing nations are having supply problems. A Goldman Sachs strategist has warned that the red metal may soon cost $15,000 per tonne.
Polish CPI growth confirmed at 13.9% y/y in May as inflation spreads throughout economy
Polish CPI growth accelerated 1.5pp to 13.9% y/y in May, with analysts now pencilling in 15%-16% y/y peak CPI growth in August or September.
