Southeast Europe / Data
Turkey enters technical recession with 3Q official GDP release
Statistical institute has "done the job". Odds shorten on December bringing a rate cut.
Subsidy covers 87% of electricity bill charged to lowest-level household consumers in Turkey
Such social support programmes seen as underpinning support for country’s ruling AKP.
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NBS forecasts inflation of 3.7% in 2025, growth at 4.5%
After briefly easing, inflation has approached the upper limit of the National Bank of Serbia’s target range.
Turkey sticks with 50% policy rate for eighth straight month
Reports say some carry traders have closed lira positions, but the smooth nominal devaluation and real lira appreciation policy remains on track.
Flash estimate shows Bulgaria’s GDP growth at 2.2% in 3Q24
Growth speeds up compared to previous nine quarters as Bulgaria adjusts to nearby Ukraine war and domestic political crises.
Romania’s GDP grows by just 0.9% y/y in January-September
Agriculture, industry and construction were among the long list of sectors whose poor performance dragged growth down.
Romania’s industrial output falls by 2.0% q/q in Q3
Romanian industries are failing to take advantage of robust demand within the country, which instead has resulted in higher imports.
Romania’s trade gap widens sharply in Q3
Romania is increasingly importing consumer goods, while failing to develop value-added or export-driven industries.
Romania’s central bank hikes end-2024 inflation forecast to 4.9%
With balance of risks to the inflation rate tilted to the upside, National Bank of Romania puts future rate cuts on hold.
Romanian central bank maintains policy rate amid persistent inflation and heightened risks
Faced with multiple sources of uncertainty, the BNR continued its cautious stance.
Turkey bumps up end-2024 inflation “target” to 44%
Election of Trump sounds like good economic opportunity for Ankara, but nobody can really know as things stand.
North Macedonia’s central bank cuts GDP growth projections for 2024, 2025
Slower recovery than previously expected, but inflation on track to drop to 3.5% this year and continue downward trend into 2025.
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Turkish manufacturing still has it tough despite slight easing of pressure, October PMI shows
Manufacturers encountering challenging demand conditions.
Turkey releases official October inflation at 49% y/y
ENAG contends inflation moved up 1 percentage point to 90% y/y.