Turkey’s net reserves recover to minus $57bn

Akin Nazli in Belgrade December 7, 2023

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.

Hungarian retail sales fall for 11th straight month in October

Tamas Csonka in Budapest December 7, 2023

Decline of 6.5% y/y is second worst in EU.

Retail sales in Romania slightly stronger in October

bne IntelliNews December 7, 2023

Retail sales rose by 0.9% m/m in October, recouping the losses incurred over the previous three months.

Drop in Czech retail sales slowed down to 1.4% in October

bne IntelliNews December 7, 2023

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.

Kazakhstan's November services PMI shows first contraction in eight months

bne IntelliNews December 6, 2023

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 resume growth in September-October as energy prices remain elevated

bne IntelliNews December 6, 2023

Industrial prices in Romania increased by 2.4% in September-October.

Slovak GDP grew by 1.1% y/y in Q3

Albin Sybera December 6, 2023

GDP also up by 0.2% quarter-on-quarter as trade surplus makes up for lower domestic demand.

Russia’s services PMI posts 52.2 in November as growth cools, but remains comfortably in the black

bne IntelliNews December 5, 2023

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.

Employment in Romania up 1.3% y/y in Q3

bne IntelliNews December 5, 2023

Largest number of jobs created in construction, IT&C and hospitality sectors.

Czech GDP dropped by 0.7% y/y and by 0.5% q/q in 3Q23

Albin Sybera December 5, 2023

Czechia remains the only EU country not to have recovered its pre-pandemic level of output.

Turkey releases official November inflation slightly up at 62% y/y

Akin Nazli in Belgrade December 4, 2023

Independent group ENAG calculates 129% y/y.

Low base and agriculture lift Hungary out of technical recession in Q3

Tamas Csonka in Budapest December 4, 2023

Hungary’s economy grew 0.9% quarter-on-quarter in the third quarter, after four consecutive months of contraction.

Czech PMI stays low in November

bne IntelliNews December 4, 2023

Czech manufacturing PMI data from S&P Global market intelligence company posted 43.2 in November.

Polish PMI rises in November to open way for recovery at year’s end

Wojciech Kosc in Warsaw December 4, 2023

Poland's Purchasing Managers' Index grew 4.5 points to 48.7 in November.

Putin's approval rating up to 85% in November, Russians happy with the country's direction

bne IntelliNews December 3, 2023

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%.

Slowdown in Turkish manufacturing became more entrenched in November, PMI shows

bne IntelliNews December 3, 2023

Both new orders and production scaled back to the greatest extent in a year.

Russia’s manufacturing PMI unchanged at 53.8 in November, but economy still growing strongly

bne IntelliNews December 1, 2023

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.

Polish inflation eases to 6.5% y/y in November, flash estimate shows

Wojciech Kosc in Warsaw December 1, 2023

Analysts now expect the CPI to continue easing in the coming months but at a clearly slower rate.

Global climate plans still fall short

Martin Armstrong for Statista December 1, 2023

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.

Turkey’s official 2023 growth on course for “middle ground” as 5.9% y/y posted for 3Q23

Akin Nazli in Belgrade November 30, 2023

As they attempt to “rebalance” economy, country’s new economic team must keep both the ruling politicians and global investors happy.