Data
Hungary’s automotive sector sputters in April
Headline industrial output growth slows to 3.1% y/y.
Slovak industrial production down by 9.6% in April
Month-on-month, after seasonal adjustments, industrial output fell by 1.2%.
Romania’s consumer price inflation reaches 14.5% y/y in May
Food prices increased in line with the average, by 14.3% y/y, while prices of the non-food goods including energy and fuel advanced by 17.2% y/y.
Czech inflation rate in May posts another record
Consumer price index increased by 16% y/y from 14.2% posted in April.
Moldova’s inflation hits 29% y/y in May
Further inflationary pressure is expected as end-user electricity prices rise by between 14% and 22% in June.
Bulgarians most sceptical in EU about euro adoption, Eurobarometer poll says
54% of Bulgarians don't want their country to switch to the euro, despite plans to enter the eurozone in January 2023.
Poor Belarusians are becoming poorer
While Belarus’ economy minister has said that sanctions should not affect the living standard of ordinary Belarusians, a recent survey made by the country’s statistical agencies shows that poor Belarusian are already becoming poorer.
Russia’s CBR cuts key rate to pre-invasion 9.5%
The board of the Central Bank of Russia (CBR) cut the key interest rate by 150 basis points from 11% to a single-digit 9.5%, projecting confidence in managing the sanctioned and isolated Russian economy.
Romania’s 12-month trade gap hits 10.7% of GDP as deficit deepens by 65% y/y in April
Trade gap reached €26.6bn in 12 months to April, after rising commodities prices pushed up the value of both exports and imports.
Czech unemployment further down to 3% in May
Seasonal jobs will continue to be advertised in the coming months, which means the unemployment rate could fall even further.
Detailed Q1 GDP figures confirm private consumption and IT&C as main growth drivers in Romania
Earlier flash estimate indicating 6.5% y/y growth and a 5.2% q/q advance surprised analysts, who were expecting a weaker performance.
Czech industrial production down by 3.8% y/y in April
Manufacture of motor vehicles contributed the most to the drop in output, mainly as a result of the lack of components.
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Russia’s car sales drop 84% in post-invasion May 2022
Russian car sales have crashed as sanctions has brought the import-heavy industry to its knees. Russia’s car sales drop 84% in post-invasion May 2022
Russia’s Composite PMI up further in May, but still in contraction
The S&P Global Russia Composite PMI Output Index (manufacturing and services) posted 48.2 in May 2022, up from 44.4 in April and 37.7 in March.
Nearly 40% of Bulgarians want out of Nato as pro-Russian propaganda strengthens
Minister says a propaganda war is being fought in Bulgaria, turning public opinion on the war in Ukraine.
Russia's invasion of Ukraine pushes Eastern Europe further towards the West
But close to half of Globsec Trends 2022 poll respondents in Hungary, Bulgaria and Slovakia do not place primary responsibility on Russia for the war in Ukraine.
Services and industry lift Hungary’s Q1 growth to 8.2%
The outlook for the remaining part of the year is grimmer, due to the impacts of the war, the cutback in public investments and government transfers running out.
Kazakh manufacturing sector PMI registers growth following period of disruption due to Ukraine war
The Kazakh manufacturing sector signalled a return to growth in May following a period of disruption caused by the outbreak of war in Ukraine and subsequent imposition of sanctions on Russia, according to the latest purchasing managers' index
Czech manufacturing sector posts slight fall in May
Purchasing Managers’ Index falls to 52.3 points, down from 54.4 in April.
Polish PMI indicates first worsening in business conditions since mid-2020
Poland's Purchasing Managers' Index dropped 3.9 points to 48.5 in May.
