The National Bank of Ukraine (NBU) slashed its key policy rate by two full percentage points (pp) to 13.5% on December 13 from previous level of 15.5% taking the rate to its lowest level in two years, the regulator said in a statement on December 12.
The indicator’s fall eased from a decline of 4.5% y/y in September but still marked the sixth straight month of PPI deflation.
Unemployment rate in the Czech Republic remained at 2.6% in November, based on data provided by the Czech Labour Office on December 9. The number of unemployed people has risen by 771 to 197,289 since October, the lowest November figure since 1996
Slovakia's GDP growth has slowed in the 3Q19 with GDP in fixed prices increasing by 1.3%, down by 3.3 percentage points (pp) year-on-year, the lowest growth reported since 4Q13, said the Slovak Statistics Office on December 5.
Ukraine's international reserves increased by 2.5% month-on-month to $21.9bn in November following a 0.2% m/m drop in October, according to the National Bank of Ukraine.
Czech retail sales growth slowed to 3.4% year-on-year in October from 7.3% in September.
Sales of new passenger cars and light commercial vehicles (LCVs) in Russia continued its decline, decreasing by 6.4% in November 2019, according to the report by the AEB Automobile Manufacturers Committee.
Level of 77.35 compares to record low of 62.45 seen in September 2018 following the currency crash.
Inflation level won’t stop rate-setters easing further next week says one analyst. Another says they face a “difficult decision”
Data imply consumers could be losing their appetite for taking on fresh debt despite new availability of cheaper loans.
Analysts were caught off guard by the sudden plunge of Russia’s November manufacturing PMI result to 45.6, the lowest result in a decade, from an already low 47.2 in October.
Czech manufacturing sector continued to crash in November, with IHS Manufacturing Purchasing Managers Index down to 43.5 from 45.0 in October, driven mainly by decreasing production and new orders.
Russia’s IHS Markit Russia Manufacturing Purchasing Managers’ Index tumbled to 45.6 in November, down from 47.2 in October – the worst performance across the Russian manufacturing sector for over a decade.
Ukraine’s current account deficit shrank to $0.7bn in October from $1.1bn in September due to a positive switch in the primary income balance, the National Bank of Ukraine reported.
“A number of panellists continued to report upwards price pressures as a result of currency weakness, but this was much less of an issue than this time last year," says IHS Markit.
Czech annual economic growth slowed to 2.5% year-on-year in 3Q19, up by 0.4% quarter-on-quarter, driven by both the domestic and external demand, down from a y/y growth of 2.7% in 2Q19, according to the statistics office
Domestic demand drove the headline result in July-September, although the pace of its growth slowed, while investment growth weakened considerably.
The pick-up in economic expansion in the third quarter arrived on the back of investment growing 8.1% y/y.
The foreign share of investors into the Russian Ministry of Finance ruble-denominated OFZ treasury bills reached 32% in November as foreign investors increased their holdings again to RUB2,837bn ($44.2bn) worth of the bonds.
Ukraine’s hryvnia has gained 15% in value YTD and that is causing problems for the export orientated economy. The hryvnia passed the UAH24 to the dollar mark on November 27, a level it hasn't seen since 2015.