Emerging Europe Economics Update Manufacturing recovery stutters The latest batch of manufacturing PMIs in Emerging Europe shows that activity slowed across the board last month. Activity remains strongest in Turkey. But the weakness of the Central European... 2nd April 2013 · 1 min read
Emerging Europe Economics Update New-look Hungarian MPC resists more aggressive policy easing The fact that Hungary’s new-look MPC did not lower interest rates by more than 25bps today underlines the extent to which policymakers are constrained by the threat of a sell-off in the financial... 26th March 2013 · 1 min read
Emerging Europe Chart Pack Turkey leading the recovery, Russia lagging behind The latest activity data from Emerging Europe have been something of a mixed bag. Turkey is leading the recovery as a rebound in credit growth has fuelled domestic demand. Here, we think GDP growth... 21st March 2013 · 1 min read
Emerging Europe Economics Update Q4 GDP breakdown points to consumer turnaround The breakdown of Q4 GDP data in Central and South Eastern Europe showed encouraging (albeit tentative) signs of an improvement in consumer spending. By contrast, exports were extremely weak. Leading... 11th March 2013 · 1 min read
Emerging Europe Economics Update Market rally losing steam The rally in Emerging Europe’s financial markets has lost steam over the past few weeks. In part, this is due to the re-surfacing of tensions in the euro-zone following Italy’s inconclusive general... 7th March 2013 · 1 min read
Emerging Europe Economics Update Matolcsy could turn his attention to Hungary's FX debt burden Events during the first few days of Gyorgy Matolcsy’s Governorship of Hungary’s central bank reinforce concerns about the Bank’s independence. At the very least, we are likely to see further interest... 5th March 2013 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Emerging European property continues to lose its shine The relatively strong performance of Emerging European property markets in 2011 was not repeated in 2012. The softening economic backdrop did little to support rental growth, while yields appear to... 1st March 2013 · 1 min read
Emerging Europe Economics Focus What to expect from Hungary's new Bank governor The decision to nominate Economy Minister Gyorgy Matolcsy to become Hungary’s new central bank governor is another blow to the Bank’s independence and is likely to result in further interest rate cuts... 1st March 2013 · 1 min read
Emerging Europe Economics Update PMIs data point to rebound in growth in Q1 February’s PMI data add to recent evidence that the slump in Emerging Europe has bottomed out and that growth in the first quarter of this year should be an improvement on the final quarter of 2012... 1st March 2013 · 1 min read
Emerging Europe Chart Pack Bottoming out GDP data released over the past month showed that growth in Emerging Europe slumped to a postcrisis low of just 0.8% y/y in the final quarter of last year. Nonetheless, the latest surveys suggest that... 28th February 2013 · 1 min read
Emerging Europe Economic Outlook Outlook improves, but downside risks remain Growth in Emerging Europe sank to a post-crisis low in the final quarter of 2012 but the latest surveys suggest that the outlook has brightened a little since the turn of the year. We expect growth to... 27th February 2013 · 1 min read
Emerging Europe Economics Update Hungary cuts again, attention turns to new Governor The impending change at the helm of Hungary’s central bank will lead to further cuts in interest rates over the coming months. But the scope for easing will be determined in large part by whether... 26th February 2013 · 1 min read
Emerging Europe Economics Focus Hungary's employment puzzle Rising employment has been one of the few bright spots for the recession-stricken Hungarian economy. But this merely reflects the weakness (indeed absence) of labour productivity growth. And as long... 20th February 2013 · 1 min read
Emerging Europe Economics Update Q4's dismal data a mix of euro-zone and domestic problems The dire set of Q4 GDP data released across Central & South Eastern Europe over the past week or so has led to obvious questions as to how the region is being affected by the crisis in the euro-zone... 18th February 2013 · 1 min read
Emerging Europe Economics Update GDP growth sinks to post-crisis low The raft of Q4 GDP data released today for Emerging Europe suggests that growth in the region sank to a post-2009 low of 0.8% y/y. An improvement in sentiment within the euro-zone should feed through... 14th February 2013 · 1 min read
Emerging Europe Economics Update Russia: investment slump points to weaker trend growth The sharp slowdown in Russian growth towards the end of last year has drawn attention away from a much more important point: namely that it was driven by a slump in investment. In this month’s Watch... 13th February 2013 · 1 min read
