Since 2018, economy has carried risk of severe balance of payments crisis. For the removal of that risk, the central bank’s net in and off-balance sheet FX position should at least turn positive.
Decline of 6.5% y/y is second worst in EU.
Retail sales rose by 0.9% m/m in October, recouping the losses incurred over the previous three months.
Czech retail sales decreased by 1.4% year on year and increased by 0.6% month on month in October, in the softest monthly drop in a year and a half. The drop in sales eased compared to the 4% y/y drop in September and the 2.8% y/y drop in August.
Despite lapse in demand, firms said to retain positive attitude on 12-month outlook for activity, which remained historically elevated. Inflationary pressures continued to retreat.
Industrial prices in Romania increased by 2.4% in September-October.
GDP also up by 0.2% quarter-on-quarter as trade surplus makes up for lower domestic demand.
Russian service providers recorded a modest expansion in business activity during November, according to the latest PMI survey from S&P Global, but the rate of growth slowed somewhat from October.
Largest number of jobs created in construction, IT&C and hospitality sectors.
Czechia remains the only EU country not to have recovered its pre-pandemic level of output.
Independent group ENAG calculates 129% y/y.
Hungary’s economy grew 0.9% quarter-on-quarter in the third quarter, after four consecutive months of contraction.
Czech manufacturing PMI data from S&P Global market intelligence company posted 43.2 in November.
Poland's Purchasing Managers' Index grew 4.5 points to 48.7 in November.
According to the latest polls from the Levada Centre, Russian President Vladimir Putin's approval rating rose three percentage points in November to 85%, and disapproval slid down two points to 13%.
Both new orders and production scaled back to the greatest extent in a year.
The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index was unchanged at 53.8 in November, as the Russian economy continues to grow well above potential thanks to the military Keynesianism of heavy state spending.
Analysts now expect the CPI to continue easing in the coming months but at a clearly slower rate.
Ahead of the Cop28 climate summit beginning on November 30 in Dubai, Sultan Al Jaber, the Cop28 president-designate has said that he believes an "unprecedented outcome" is still on the cards – keeping alive hopes something will happen.
As they attempt to “rebalance” economy, country’s new economic team must keep both the ruling politicians and global investors happy.