Data
Polish core inflation accelerates 0.3pp to 11% y/y in October
In m/m terms, core inflation grew 1% in October, easing versus a gain of 1.4% m/m in September.
Romanian banks’ profit hits record after 25% y/y surge in Q3
The aggregated net profit of Romanian banks surged to €581mn in Q3.
Poland’s GDP growth eases to 4.4% y/y in Q3
Falling inventories weigh on economic activity in the second half of the year after strongly pushing up growth in Q1.
Engines of Hungary’s economy sputtering as quarterly GDP contracts in Q3
GDP contracted 0.4% q/q for the first time since 2020, potentially starting a technical recession.
Inflation in Ukraine hit 26.6% y/y in October
Inflation in Ukraine increased by 2.5% in October 2022 compared to September and by 26.6% year on year, Economic Pravda reported on November 10.
Serbian central bank raises policy rate to 4.5%
NBS cites rising inflation as it makes eighth consecutive rate hike.
Hungarian inflation hits 21.1%
Hungary’s government introduces price cap on eggs and potatoes to tame food inflation of 40%.
Romania's trade deficit up by 59% y/y in Q3
The increase was smaller in September, reflecting softening private demand and economic activity.
Ukraine international reserves increase by $1.3bn in October to $25bn
Ukraine's international reserves increased by $1.315bn, or 5.5%, in October bringing the total to $25.2bn, UBN reported on November 9.
Food sales fall sharply in September as Hungarians feel pain of record price increases
Retail sales growth slowed to an annualised 3.0% in September.
Romania leaves door open for more rate hikes with moderate 50bp move
The BNR confirmed its dovish stance based on the view that more costly financing would hurt the economy more than externally-driven inflation.
Romania expected to continue monetary tightening amid uncontrolled inflation
Analysts forecast 50bp rate hike ahead of BNR's rate-setting meeting.
Turkey releases official October inflation at 86% y/y
Country stays in sixth place in world inflation league. Critics say economy is mired in stagflation.
Albanian central bank raises base rate to 2.75%
Bank of Albania says that high inflationary pressures remain the main risk to sustainable and long-term growth.
Polish factories go deeper in recession mode, October PMI survey shows
The October PMI survey is at odds with the most recent real-life data from Poland’s industrial sector, which expanded 9.8% y/y in September.
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Kazakhstan manufacturing PMI signals stabilisation in October
Output, howevr, fell for the second month running as difficulties with sourcing materials continued.
Polish CPI accelerates growth to 17.9% y/y in October
Accelerating inflation poses a continued dilemma for the National Bank of Poland of moving forward with more monetary tightening at a time when the economy is already slowing markedly.
Russia’s manufacturing PMI runs out of steam in October
The seasonally adjusted S&P Russia Manufacturing Purchasing Managers’ Index posted 50.7 in October, remaining above the no-change mark of 50.0 indicating expansion, but slowing down from 52.0 seen in September.
Turkish manufacturing hit by worst slowdown since May 2020 reveals October PMI
"Subdued demand conditions kept the Turkish manufacturing sector on the back foot, with weakness in international demand increasingly to the fore,” says S&P economics director.
North Macedonia’s industrial production ticks down 0.5% y/y in September
Industrial production has been fluctuating since November 2021, with the slim decrease in September due to lower production in the mining and quarrying and utility sectors.
