Latvia’s industrial output rose 10.1% in May 2021 y/y

bne IntelliNews July 5, 2021

Latvia’s industrial production output rose by 10.1% y/y in May, according to calendar adjusted data at constant prices, the country’s Central Statistical Bureau (CSB) announced on July 5.

Russia’s services PMI stutters as recovery runs into inflation headwind

bne IntelliNews July 5, 2021

Russia’s seasonally adjusted IHS Markit Russia Services Business Activity Index registered 56.5 in June, down from 57.5 in May, but still well above the 50 no-change mark, as services continue to recover from last year’s annus horribilis.

Romania’s industrial prices increased by 10.4% y/y in May

Iulian Ernst in Bucharest July 5, 2021

Industrial prices leapt by just over 2% m/m in May and kept recovering in line with the reopening of the global economy.

Inflation expectations amongst Russia’s most vulnerable citizens ticks up to 12.9%

bne IntelliNews July 4, 2021

Inflation expectations among Russians have been high since the start of this year – more than double the actual rate of inflation – but expectations among Russia's most vulnerable are double the CBR's estimate.

Turkish lira coins worth less than scrap value

Akin Nazli in Belgrade July 2, 2021

Copper and zinc prices mean one kurus gives the holder a 1,539% arbitrage opportunity.

Foreign tourist arrivals in Turkey down 14% y/y in Jan to May

Akin Nazli in Belgrade July 2, 2021

Global cost of COVID19 impact on tourism may reach $4trn in 2021, with Turkish economy hit worst, says Unctad report.

ING: Russia’s faster inflation, stronger activity, harsher monetary policy

bne IntelliNews July 2, 2021

The new spike of inflation in June to 6.4-6.5% year on year combined with stronger-than-expected activity in 5M21 has reinforced the CBR's hawkish stance. We raise our CPI, GDP and key rate forecasts for this year, expecting a 75bp key rate hike.

ING: Polish PMI hits record high as output and orders improve

Rafal Benecki is the chief economist for Poland at ING and Piotr Poplawski is the senior economist July 2, 2021

Poland's PMI climbs to 59.4, a new historic high, from 57.2 the previous month, smashing the consensus figure of 57.

Polish PMI surges to a new all-time high in June

bne IntelliNews July 2, 2021

Poland's Purchasing Managers' Index (PMI) climbed 2.2 points to 59.4 in June, the new all-time high after the preceding month, the economic research company IHS Markit said on July 1.

Ukraine’s current account surplus swelled to $723mn in May on the back of booming exports and high commodity prices

bne IntelliNews July 1, 2021

Ukraine’s current account surplus grew to $723mn in May, up from the $443mn the country earned in April, due to a trade surplus swollen by strong exports and high commodity prices.

Croatia’s retail trade up 16.5% y/y, 6.4% m/m in May

bne IntelliNews July 1, 2021

Retail trade turnover up by 16.5% y/y and 6.4% m/m in May as recovery continues.

Czech Republic posts best manufacturing PMI improvement ever

bne IntelliNews July 1, 2021

The Czech Republic Manufacturing PMI index soared in June to 62.7 in June. However, problems in supply chains could take the edge off growth.

Russia’s manufacturing PMI contracts for the first time in 2021 on fresh coronavirus pandemic wave

bne IntelliNews July 1, 2021

Russia’s strong economic recovery from last year’s crisis spluttered in June after soaring producer prices caused the manufacturing PMI to shrink for the first time this year.

PMI shows Turkish manufacturing back in growth territory after easing of COVID-19 restrictions

bne IntelIiNews July 1, 2021

“There were some suggestions growth could have been even stronger were it not for the ongoing difficulties in sourcing raw materials,” says IHS Markit economics director.

Russia’s current account surplus extended gains in May to reach $35.8bn, reserves at all-time high of $605bn

bne IntelliNews July 1, 2021

Russia’s current account surplus extended gains in May to reach $35.8bn, according to the Central Bank of Russia (CBR). International foreign exchange reserves hit an all-time of $605bn as of the start of June.

Inflation slows to 1.4% in Slovenia in June

bne IntelliNews July 1, 2021

The largest upward driver for the annual inflation was from higher prices of petroleum products.

Moldova’s current account deficit deepened by 67% y/y in Q1

bne IntelliNews July 1, 2021

The country's chronic current deficit returned to a higher level after it temporarily improved during the pandemic.

Russia's business confidence at record highs, consumer confidence improving

bne IntelliNews July 1, 2021

Russia’s business confidence remained at highs not seen since 2012 in June, while consumer confidence is starting to improve but remains behind the historical average for the summer season, according to the latest RosStat survey.

Russia’s labour market recovering, unemployment falls to 5.1% in May

bne IntelliNews July 1, 2021

Russia’s labour market further extended its gains in May, as unemployment declined to 5.1% in line with Bloomberg consensus projections and the real wages gain was revised up to a whopping 7.8% y/y in April, partly due to low base effects.

Russia’s producer prices inflation jumps to all-time record high of 35.3% in May

bne IntelliNews July 1, 2021

Producer prices in Russia jumped 35.3% year on year in May of 2021, the highest level since the series began in 2005, according to the latest Central Bank of Russia (CBR) figures.