Emerging Europe Data Response Turkey Curr. Acc. (Mar.) & Czech CPI (Apr.) Turkey’s higher-than-expected current account deficit figure for March provides further evidence that weak exports have almost entirely offset the benefit to the economy from lower oil prices. And the... 12th May 2015 · 1 min read
Emerging Europe Economics Update Czech MPC turns a little less dovish The press release accompanying the Czech National Bank’s MPC meeting, at which the policy rate and the exchange rate ceiling were left unchanged, was dovish but less so than in March. As a result... 7th May 2015 · 1 min read
Emerging Europe Data Response Czech & Hungary Industrial Production (Mar.) March’s industrial production data from the Czech Republic and Hungary show that both economies ended the first quarter on a strong note. Indeed, these data, put together with the latest retail sales... 7th May 2015 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (Apr.) April’s raft of manufacturing PMIs in Emerging Europe, released today and yesterday, suggest that conditions in the Russian and Turkish industrial sectors improved a little at the start of the second... 5th May 2015 · 1 min read
Emerging Europe Chart Pack Russia’s economy slumps, growth weakens in Turkey The region’s two largest economies – Russia and Turkey – have continued to struggle over the past month. Russia’s economy appears to have contracted sharply by around 3% y/y in Q1. Meanwhile, we... 27th April 2015 · 1 min read
Emerging Europe Economics Focus Brightening outlook for Central European consumer markets Following a torrid few years after the global financial crisis, Central European consumer spending has started to recover gradually over the last eighteen months and there are reasons to expect this... 14th April 2015 · 1 min read
Emerging Europe Economics Update Hungary’s Sunday trading ban symbolic of reform backsliding The decision taken by the Hungarian government to ban Sunday trading is unlikely to have a major impact on the economy at an aggregate level. But as we explain in this Watch, it may lead to a shift in... 9th April 2015 · 1 min read
Emerging Europe Data Response Czech CPI (Mar.) The small rise in Czech inflation last month, to 0.2% y/y, slightly reduces the probability that the National Bank will ease monetary conditions further at next month’s MPC meeting. Nonetheless, with... 9th April 2015 · 1 min read
Europe Commercial Property Update Will stronger industrial output drive CE industrial rental growth? A combination of strengthening industrial output and further growth in the logistics sector will underpin industrial rental levels in Central Europe this year and allow them to pick up from 2016. 2nd April 2015 · 1 min read
Emerging Europe Economics Update Czech MPC keeps policy unchanged, but hints at loosening Having kept its two-week repo rate unchanged at 0.05% and maintained its exchange rate ceiling of 27/€ earlier today, the Czech MPC’s accompanying statement struck a markedly dovish note. As a result... 26th March 2015 · 1 min read
Emerging Europe Chart Pack Central Europe shaping up well at the start of 2015 Despite concerns about deflation, a recession in Russia and sluggishness in the euro-zone, the latest data out of Central Europe have been surprisingly robust. Industrial production growth has... 25th March 2015 · 1 min read
Emerging Europe Economics Update Ukrainian bonds fall further as debt talks start The start of debt restructuring negotiations in Ukraine has been accompanied by further losses on the country’s foreign currency government bonds. Meanwhile, currencies in Central Europe have weakened... 17th March 2015 · 1 min read
Emerging Europe Data Response Poland CPI (Feb.) & Czech IP & Retail Sales (Jan.) The weaker-than-expected 1.6% y/y drop in Polish consumer prices last month was driven largely by an even steeper fall in petrol prices. Meanwhile, Czech activity data released today show that the... 13th March 2015 · 1 min read
Emerging Europe Data Response Turkey Ind. Prod. (Jan.) & Czech CPI (Feb.) The 2.2% y/y fall in Turkish industrial production in January was distorted a little by base effects, but even so the data highlight the extent to which the economy is struggling. The consensus view... 9th March 2015 · 1 min read
Emerging Europe Chart Pack Russian consumers feel the squeeze The latest data have given mixed signals on the performance of Emerging Europe’s economies. The encouraging news is that growth in much of Central Europe (particularly Poland and Hungary) seems to be... 25th February 2015 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Occupier and investment indicators fall sharply in Moscow A softening of economic growth in many countries across both Emerging Europe and non-euro-zone Western Europe helps to explain the relative lack of action in terms of rental movements in Q4. The big... 18th February 2015 · 1 min read
