Data
Hungary's industry mired in recession in November as October bounce proves one-off
Industrial output in Hungary fell 4.2% year on year in November and by 2.9% when adjusted to working days, according to preliminary data from the Central Statistics Office.
_4_1736606050.jpg)
Kazakh services conclude 2024 with marginal drop in activity, PMI shows
Broader trend of strengthening demand remains intact. Inflationary pressures remain within manageable levels.
Indian banks' profitability to moderate in FY26
Indian banks' profitability is expected to moderate in FY26, following an inflexion point in FY25, largely due to delinquencies stemming from over-leveraging in unsecured assets and rising unsecured credit costs.
Trust in Zelenskiy drops to half, says poll
Trust in Ukrainian President Volodymyr Zelenskiy has declined to half (52%), down seven percentage points from October 2024 and 12 points since February, according to a poll conducted by the Kyiv International Institute of Sociology.
Ukraine’s inflation climbs to 11.2% y/y in November
Inflation in Ukraine climbed to 11.2% year on year in November 2024, surpassing the National Bank of Ukraine’s (NBU) earlier forecasts, according to the latest inflation report.
Ukraine's international reserves soared to new all-time high of $43.78bn in 2024
New historical record: Ukraine's international reserves have exceeded $43.78bn. As reported by the National Bank, as of January 1, 2025, Ukraine's international reserves reached over $43.787bn, increasing by 9.7% during December.
_2_1736170128.jpg)
PMI registers record acceleration in Kazakh manufacturing growth in December
Index ends year at historic high with unmatched gains in production volumes and new orders.
Polish manufacturers go deeper in downturn mode in December
The fall of the indicator – which has now lingered below the 50-point mark separating contraction from growth for 32 months – occurred for a second successive month after a four-month expansion series.
Russia's PMI indices expand in December, but show the economy is starting to cool as war stresses take effect
Russia’s manufacturing and service sectors reported modest growth at the close of 2024 but also indicate a clear slowdown in economic activity as the stress caused by the war in Ukraine begins to take its toll.
_1736095315.png)
Czech PMI drops to 44.8 amid weakening automotive industry
It is the second consecutive monthly drop, having decreased to 46 in November, down from 47.2 posted in October. The index has remained below the 50-point mark separating growth and decline for over two and a half years now.
Sales of superluxury cars in Bulgaria reach new record in 2024
Although Bulgaria remains the EU's poorest country, Bulgarians purchased cars costing as much as €2.5mn.
Turkey’s 44% y/y official end-2024 inflation release suggests another 250bp rate cut in late January
Independent economists' research group, however, measures inflation at 83% y/y.
Turkish manufacturing nearing stabilisation, PMI shows
December moderation least pronounced in eight months.
Turkey launches monetary easing cycle with 250bp rate cut
Regulator also narrows interest rate corridor.
Turkey hikes minimum wage by 30% in line with financial market demands
Increase compares to official inflation of towards 50%, unofficial inflation of towards 90%. Turks in usual fury.
Dollar hits new high in Tehran ahead of international holidays
Iran’s currency markets recorded another surge in the US dollar, which reached IRR 787,500 on the open market on December 24, setting a new record high.
Russia’s CBR keeps key rate at 21% under pressure
In a surprise decision CBR governor Elvia Nabiullina kept interest rates on hold at 21% as she comes under mounting pressure from Russian President Vladimir Putin and the oligarchs who accuse her of destroying the economy.
Polish industrial production disappoints in November as output falls 1.5% y/y
Seasonally adjusted, output expanded 1.1% y/y in November, following a gain of 3.9% y/y the preceding month, GUS data showed.
Moldova's economy shrinks by 1.9% y/y in Q3
Economic performance was dragged down by agriculture, while manufacturing sector grew.
Kosovo's population down 12% since 2011
Falling population attributed to departure of many Kosovars to work abroad in search of a better life, a trend that persists across the Balkans.