Polish PMI advances but remains below 50 points as restrictions lifted

bne IntelliNews July 1, 2020

IHS Markit points to the challenging business environment in the manufacturing sector as demand and capacity utilisation remained weak amid the ongoing coronavirus crisis.

Czech PMI slightly up in June but still under 50-point threshold

bne IntelliNews July 1, 2020

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.

Russian corporate profits recovering, but still down by half on 2019 in April

bne IntelliNews July 1, 2020

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

bne IntelliNews July 1, 2020

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.

June PMI shows Turkish manufacturing back on expansion path

bne IntelIiNews July 1, 2020

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.

Russia’s June manufacturing PMI bounces back, recovers almost all coronacrisis lost ground

Ben Aris in Berlin July 1, 2020

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

COVID-19 second wave strikes parts of emerging Europe

bne IntelliNews June 30, 2020

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.

Turkey burnt through estimated $11bn of reserves in May

Akin Nazli in Belgrade June 29, 2020

Central bank’s open swap stock jumped to $52bn at end-May from $36bn a month ago.

Economic sentiment in CEE picks up in June, but still deeply depressed

bne IntelliNews June 29, 2020

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

Bulgarian business climate indicator keeps rising in June

bne IntelliNews June 29, 2020

Sharp decline during lockdown months of March and April, followed by recovery in May and June.

Turkey’s central bank halts rates easing cycle surprising markets

bne IntelIiNews June 25, 2020

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.

Slovenia’s retail trade increases in May after three-month decline

bne IntelliNews June 25, 2020

Retail sales back up after more shops open during easing of lockdown.

Remittances to Moldova spike in May amid lockdown relaxation in Europe

Iulian Ernst in Bucharest June 25, 2020

Gross transfers from abroad to Moldovan households increased by 22% y/y to $142mn in May, reflecting payments delayed during the lockdown period.

Balkan Business Sentiment Index reached historic high in 2019

bne IntelliNews June 25, 2020

Progress towards EU accession lifted sentiment, but businesspeople still see corruption as one of their biggest problems.

Ukraine’s industrial production decline slows to 11.7% y/y in May

bne IntelliNews June 24, 2020

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

Restrictions come down again in emerging Europe as coronavirus cases surge

bne IntelliNews June 23, 2020

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 stage surprising recovery in May

bne IntelliNews June 23, 2020

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.

Polish industrial production leaves trough in May

bne IntelliNews June 22, 2020

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.

Albania's industrial output down 11.2% y/y in 1Q20

bne IntelliNews June 21, 2020

Industrial production declined as the country felt the first consequences of the coronavirus crisis which emerged in March.

Illicit cigarette consumption declines in eastern EU states

Clare Nuttall in Glasgow June 20, 2020

KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.