Data
Hungarian industrial production falls 2.6% y/y in July
Automotive production rose 14.4% y/y in July, slowing from a 19.1% increase in the previous month.
Inflation steady at 9.4% y/y in Romania in August
International rating agency Fitch expects a long period of disinflation until 2025.
Romania’s industry is losing ground despite marginal advance in July
Romania’s industrial output index increased by 0.6% m/m and by 0.9% m/m for the core manufacturing sector in July.
Romania’s public debt eases in June to 48.4% of GDP
Romania’s public debt decreased by RON6.25bn in June to RON724.bn at the end of the month.
Ukraine’s Ministry of Finance revises GDP growth up to 3% for 2023
Ukraine’s Ministry of Finance has revised its GDP growth forecast up to 3%, the ministry said on September 12.
Europeans support ongoing aid and weapons for Ukraine even if politicians waiver
Ukrainian President Volodymyr Zelenskiy told the Economist that he saw signs of wavering amongst Ukraine’s Western partners in an interview on September 10, but the people of Europe still want to support Ukraine in its fight with Russia.
Prices stabilise in Moldova
Annual inflation dropped below 10% y/y for the first time since November 2021, to 9.7% y/y in August.
Czech inflation slows to 8.5% in August
August y-o-y inflation is 0.3 percentage points down on July, when inflation eased to 8.8% from 9.7% in June.
Disinflationary trends continue in Hungary in August
Headline data slowed to 16.4% y/y from 17.6% in July, while core inflation eased to 15.2% in August from 17.5% in July.
Unemployment in Czechia inched up in August to 3.6%
Jobless numbers rise 0.1 percentage points on July and by 0.2pp year-on-year.
Slovenia reports negative natural population increase in July
Slovenia has a low birth rate, but its population has been boosted by immigration, even while the natural increase is negative.
Consumer prices resume growth in Kosovo after temporary slowdown
1% decrease accumulated in February to May has now been reversed after increases in July and August.
Slowing private consumption drags down Romania’s GDP growth to 1.1% y/y in Q2
Independent analysts have lowered their full-year forecasts after disappointing Q2 figures.
Corporate and retail lending growth slows in Hungary in Q2
MNB director Balint Dancsi said lending is clearly slowing down in Hungary in line with international trends.
Romania’s retail sales stagnate for fourth month in July
Private consumption, one of the main drivers for Romania’s overall long-term economic growth, is expected to slow.
BYD and Tesla dominate global EV sales
The smaller, more specialized car companies such as Tesla and Chinese market leader BYD have raced ahead with EV development and now dominate global sales.
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Services activity growth in Kazakhstan nearly stalls in August, PMI shows
Business activity and new work rose at weakest rates in six months, though the latter indicator still increased solidly.
Russian services PMI jumps to very strong 57.6 in August
The seasonally adjusted S&P Global Russia Services PMI Business Activity Index posted a very strong 57.6 in August, up sharply from 54.0 in July.
Africa, Asia most people living in extreme poverty
The place where the highest share of people continue to live in extreme poverty is Sub-Saharan Africa. As of 2019, the latest year available with the World Bank, more than a third of people in the region lived below the international poverty line.
Turkey reports 59% y/y official inflation rate for August
Istanbul’s ENAG group of economists calculates figure was 128% y/y.