Southeast Europe / Data
Moldova cuts policy rate by another 3pp as it expects rapid price stabilisation
Consumer price inflation dropped from nearly 35% y/y in October to under 25% y/y in February and the BNM expects it to drop down to 6.6% by the end of the year.
Moldova’s GDP shrinks by 5.9% y/y in 2022
In each of the last two quarters of the year, the annual decline was steeper than 10%.
Romanian wage growth keeps pace with inflation in January
Average wages up 15% y/y in nominal terms in January, fully matching the rise in consumer prices after they lagged behind inflation for most of 2022.
Kosovo posts GDP growth of 3.55% in 4Q22
World Bank expects Kosovo's economy expanded by 3.1% in 2022, with growth to speed up to 3.7% this year.
Montenegro’s annual inflation slows to 15.1% in February
23.8% y/y rise in food prices is main driver behind annual hike in consumer prices.
Romania’s industrial production keeps shrinking despite mixed January figures
Positive growth in January doesn’t change the big picture: the country is close to five years of industrial decline.
Inflation eases in Moldova for fourth month in a row
Further rate cuts are expected particularly as the economy could use any impetus to recover from the deep dive seen in Q4.
Albania’s annual inflation slows again to 7.1% in February
Inflation peaked in late 2022, and is projected to return to the target within the first half of 2024.
Small majority of Croatians approve of euro changeover
54% of Eurobarometer survey respondents think the switch to the euro was a good thing for Croatia, but 62% think it will increase the inflation.
North Macedonia’s annual inflation slows to 16.7% in February
The slowdown in inflation started in November and consumer prices are expected to ease further during the year.
Romania’s retail sales mark robust 5.3% y/y growth in January
Non-food retail sales rose by 9.1% y/y, indicating strong consumer confidence.
Bosnia posts annual CPI inflation of 14.1% y/y in January
Inflation slowed in Bosnia for the fourth month in a row.
Turkey posts official February inflation of 55%
Inflation research group ENAG records alternative figure of 127%.
Romania’s industrial inflation eases markedly to 24% y/y in January
Industrial price inflation peaked at over 50% y/y in July-August then fell as prices of energy and food moderated.
North Macedonia’s economy grew 0.6% y/y in 4Q22, 2.1% in 2022
Slowdown expected as unfavourable trends in industry and construction sectors continued into the fourth quarter.
PMI shows how earthquake disaster undercut Turkey’s manufacturing sector
Supply chains and production lines hit.
Croatia's annual GDP growth slows to 4% in 4Q22
Croatia's economic growth started to slow in late 2022 after robust expansion earlier in the year.
Turkey cuts policy rate by 50bp to 8.50%, market expected 100bp reduction
President was already arranging another cut before country was struck by earthquake disaster.
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Russia’s slide towards dictatorship drags down global democracy index
Invasion of Ukraine "accompanied by all-out repression and censorship at home", says EIU, presenting latest Democracy Index.
Gas prices fall further on record 64% full European gas tanks
Gas reserves in Europe's underground storage facilities (UGS) have dropped to 69bn cubic metres and are 63.7% full as of February 22, Gas Infrastructure Europe (GIE) reports.
