Manufacturing PMIs for March were weak in Czechia and Poland and suggest that industry remained in recessionary territory in Q1. But there were some bright spots, including the marked improvement in manufacturing conditions in Turkey, the rise in new orders in Czechia and the further easing of price pressures. Meanwhile, inflation in Turkey fell to 50.5% y/y in March, but the large falls have now passed and disinflation will be more gradual.
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