Europe’s gas storage on track to meet 80% full by start of heating season

bne IntelliNews June 29, 2022

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

bne IntelliNews June 28, 2022

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

bne IntelliNews June 28, 2022

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

bne IntelliNews June 27, 2022

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

Wojciech Kosc in Warsaw June 26, 2022

Poland’s unemployment rate slid 1pp y/y to 5.1% in May.

Hungary’s jobless rate inches down to 3.5% in May

bne IntelliNews June 24, 2022

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

Wojciech Kosc in Warsaw June 23, 2022

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

bne IntelliNews June 22, 2022

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

Wojciech Kosc in Warsaw June 22, 2022

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

bne IntelliNews June 21, 2022

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

bne IntelliNews June 21, 2022

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

bne IntelliNews June 21, 2022

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

Iulian Ernst in Bucharest June 20, 2022

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

Theo Normanton June 17, 2022

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

bne IntelliNews June 16, 2022

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

bne IntelliNews June 16, 2022

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

bne IntelliNews June 16, 2022

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

bne IntelliNews June 15, 2022

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

Theo Normanton June 15, 2022

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

Wojciech Kosc in Warsaw June 15, 2022

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.