IHS Markit points to the challenging business environment in the manufacturing sector as demand and capacity utilisation remained weak amid the ongoing coronavirus crisis.
he Czech manufacturing sector showed signs of the downturn reversing in June, but the boost to output seemed to come largely from the processing of backlogs, IHS Markit said.
Corporate profits started to recover in April, the last month with available data, but profits are running at slightly over 50% less than 2019 in March and April on a cumulative basis.
Real wages in Ukraine increased 1.4% y/y in May, after sliding 0.6% y/y in April, the State Statistics Service reported on June 30. The average monthly nominal wage rose to UAH10,542 a month ($393) from UAH10,430 in April.
Severity of COVID-19 downturn was such, however, that much more will be needed in coming months to recover output lost during worst of pandemic, says IHS Markit.
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI bounced back in June at the end of the second quarter, recovering almost all the ground it has lost during the coronacrisis to post 49.4 at the end of the second quarter
WHO warns of a “very serious resurgence” that risks pushing healthcare systems “to the brink” in 10 countries from the region after lockdowns were eased.
Central bank’s open swap stock jumped to $52bn at end-May from $36bn a month ago.
The economic sentiment indicators started to pick up again in June across Central and Eastern Europe (CEE), but there are big differences between the countries as they start to recover from the coronacrisis at their own speeds
Sharp decline during lockdown months of March and April, followed by recovery in May and June.
Analyst now expects benchmark to be left on hold over rest of this year and next with tightening not ruled out given Turkey’s large external debts and vulnerability to renewed financial market turbulence.
Retail sales back up after more shops open during easing of lockdown.
Gross transfers from abroad to Moldovan households increased by 22% y/y to $142mn in May, reflecting payments delayed during the lockdown period.
Progress towards EU accession lifted sentiment, but businesspeople still see corruption as one of their biggest problems.
Ukraine’s industrial production fell by 11.7% in May y/y, less than April’s record y/y drop of 16.2%, according to the State Statistics Service
Several countries in emerging Europe have re-imposed lockdowns and border restrictions to prevent the spread of the novel coronavirus after reporting spikes in new infections.
Polish retail sales retreated by an unexpectedly mild margin of 7.7% y/y in May, rebounding from the 22.9% y/y collapse in April.
The industrial sector improved somewhat in May thanks to the gradual easing of the lockdown to contain the coronavirus pandemic, which pummeled output in April.
Industrial production declined as the country felt the first consequences of the coronavirus crisis which emerged in March.
KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.