Growth in Kazakhstan services sustained for second successive month, April PMI shows

Firms generally upbeat on year ahead, but facing difficulties in retaining staff.

Albanian lek reaches historic high against euro ahead of Orthodox Easter

The high lek has made Albania's exports increasingly uncompetitive on European markets.

Romania’s April PMI shows output, new orders in positive area after nine-month decline

PMI index compiled by BCR Romania registered its first above-neutral score seen since data collection began last July.

Russian services PMI of 50.15 just above the no-change benchmark as Russia's economy begins to cool

The seasonally adjusted S&P Global Russia Services PMI Business Activity Index just about broke even, posting 50.5 in April, down from 51.4 in March and only just above the 50 no-change benchmark. S&P Global reported on May 6.

Mood in Polish manufacturing falls to six-month low

Poland's Purchasing Managers' Index fell 2.1 points to 45.9 in April.

OECD raises Russia growth forecast to 2.6% for 2024

The Organisation for Economic Co-operation and Development (OECD) has increased its GDP growth projection for Russia in 2024 from 1.8% to 2.6% in 2024, making it the sixth-fastest growing major economy globally this year.

The State of World Press Freedom

The 2024 World Press Freedom Index, compiled by Reporters Without Borders (RSF), was released today. This year, the agency highlights a “worrying decline in support and respect for media autonomy and an increase in pressure from the state.

Russia’s car sector makes almost full recovery from sanctions shock

After coming to a total stand still in the months after the invasion of Ukraine two years ago, Russia's automotive sector has almost made a complete recovery and is on course to sell 1.3mn cars this year - AEB

Official Turkish inflation edges up in April, bordering on 70%

Alternative reading from economists is 124%. Analyst predicts central bank won’t shift to rate cuts until next year.

PMI shows Kazakhstan manufacturing sector remained in growth mode during April despite flooding disaster

Firms successfully secure new business with competitive pricing strategies.

Czech PMI deteriorates in April

S&P highlighted stronger contractions in production and weak client demand amid the burdens of the difficult manufacturing environment, which was also pressured by waning external demand.

Turkey’s headline manufacturing PMI drops from 50.0 no-change mark to 49.3

Sustained slowdown in new orders feeds through to renewed moderation in output.

Russia’s manufacturing PMI remains at robust 54.3 in April

Czech GDP grew by 0.4% y/y in the Q1 2024

The estimate released by the Czech Statistical Office follows a GDP drop of 0.8% in the third quarter of 2023 and a growth of 0.4% in Q4. Following the revision released by CZSO in late March, the Czech economy declined by 0.2% in 2023 overall.

Polish CPI picks up growth to 2.4% y/y in April, flash estimate shows

Polish CPI grew 2.4% year on year in April (chart), just below the consensus line of 2.5% y/y and 0.4pp above the March reading, a flash estimate from Poland’s statistical office GUS showed on April 30.

Preliminary Q1 GDP data shows Hungarian economy posts modest rebound

GDP grew 1.1% year on year in Q1 and by 1.7% when adjusted for calendar effects.

Russia’s Economic Ministry issues bleak economic stress test scenario

Russia's Finance Ministry ran an extreme stress test on the economy for this year that assumes zero growth, a weakening ruble and falling oil and gas revenues in the worst-case scenario.

Moldova’s industrial output shows signs of recovery in February

More abundant and cheaper gas this year creates opportunity for resumption of industrial activity in Moldova.

Russia’s CBR maintains key rate at 16%

The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 16% at the policy meeting on April 26, making a third meeting in a row that the rate is maintained flat.

NBU cuts rates 100bp to 13.5% on falling inflation

The National Bank of Ukraine (NBU) lowered the key policy rate by 100bp to 13.5% on April 25 and improved its inflation forecast as price pressure ease.