Serbia’s GDP up 1.1% y/y in 3Q22, flash estimate shows

bne IntelliNews October 31, 2022

Serbia’s GDP growth has started to slow following the Russian invasion of Ukraine, after the country made it through the coronacrisis relatively unscathed.

Hungary’s factory gate price growth eases slightly in September

Tamas Csonka in Budapest October 31, 2022

Factory gate prices in Hungary rose 42.7% y/y in September.

Ukrainian refugees return home despite warnings against doing so

Statista October 30, 2022

More than 6mn people have returned home in Ukraine despite the war raging on, according to the latest figures from the International Organization for Migration (IOM), Statista reports.

Fitch makes sharp upward revision to Croatia’s 2022 GDP growth forecast

bne IntelliNews October 29, 2022

Fitch now predicts 6.1% growth this year, up from 3.3% forecast previously, which reflects Croatia’s faster-than-expected growth in 1H22 and solid summer tourism season.

Chunky rate hike introduced in Kazakhstan as fleeing Russians drive up consumer prices

bne IntelIiNews October 28, 2022

Benchmark raised 150 basis points to 16%, the highest it has been in six years. Inflation stands at 19.7%.

Russia’s CBR keeps key rate flat at 7.5% on escalating uncertainty

bne IntelliNews October 28, 2022

The board of the Central Bank of Russia (CBR) resolved to maintain the key interest rate flat at 7.5% at the policy meeting of October 28, making no key rate cut for the first time in six months, as expected by the market.

Russian industry slides into 3% decline in September

bne IntelliNews October 27, 2022

Russian industrial output in September 2022 declined by 3.1% year on year versus a 0.1% y/y decline in August, according to the latest data from RosStat statistics agency.

Why the war in Ukraine threatens global food security

Statista October 27, 2022

More than six weeks into Russia’s invasion of Ukraine, there’s no end in sight to the conflict that has shaken the world to its very core. The war is also having major repercussions on food security.

ING: Poland sees steep deceleration in housing construction

Rafal Benecki and Piotr Poplawski economists at ING in Poland October 26, 2022

In September, construction output increased by just 0.3% y/y, compared to a consensus of 6.6% and an increase of 6.1% in August. The decline in growth is mainly reduced building construction and may be one of the weakest elements of the economy

Swedbank maintains Lithuania's GDP forecasts, slashes Estonia’s 2023 forecast to zero

bne IntelliNews October 25, 2022

Economic contraction is forecast for the second half of this year and the first half of 2023 in the Baltic states.

US support for Ukraine hit by rising petrol prices

Statista October 25, 2022

While support for Ukraine remains high overall in the United States eight months into the war, Americans’ wallets are feeling the pinch of rising fuel and gas prices following heavy sanctions against Russia.

Fiscal pressure grows in Western Balkans as region heads into new storm

bne IntelliNews October 24, 2022

World Bank urges governments to target support at most vulnerable households and businesses.

Average gross wage in Slovenia down by real 4.8% y/y in August

bne IntelliNews October 24, 2022

Wages are failing to keep pace with inflation which stood at 11% y/y in August.

IMF increases global inflation outlook in 2022 to 9.9%

bne IntelliNews October 24, 2022

The International Monetary Fund has said that it expects inflation pressures to be significant around the world in 2022. Inflation is predicted to be worse in developing economies, where price increases are projected to reach 9.9% on average.

Polish retail sales grow 4.1% y/y in September

bne IntelliNews October 23, 2022

Polish retail sales grew 4.1% y/y at constant prices in September, the growth rate easing slightly from a gain of 4.2% y/y the preceding month, statistics office GUS said on October 21.

Turkey slashes policy rate further by 150bp despite 83% inflation

Akin Nazli in Belgrade October 20, 2022

President Erdogan still tearing up the books on conventional economic policy in his dash for growth ahead of elections.

Polish industrial production surprises positively with 9.8% y/y expansion in September

Wojciech Kosc in Warsaw October 20, 2022

Seasonally adjusted, output growth came in at 10.3% y/y in September following a gain of 11.2% y/y the preceding month.

BNR expects Romanian inflation to keep rising until year-end

Iulian Ernst in Bucharest October 20, 2022

The central bank's new assessments also pointed to a marked slowdown in economic growth in H2.

Rise in textile exports pushes up Albania’s exports in September

bne IntelliNews October 18, 2022

The biggest contributor to the annual rise in exports was the textiles and footwear sector, which is recovering from the slump in demand during the pandemic.

Most of Europe still dependent on oil and gas for fuel

bne IntelliNews October 18, 2022

Europe is hoping to wean itself off Russian gas and turn to renewables but only a few countries rely on hydropower for the majority of their energy needs, while most of the rest of Europe relies on oil and gas.