Industry hopes demand drop-off will prove to be blip rather than start of sustained downturn.
Operating conditions at Russian manufacturing firms improved at a solid pace in October, albeit slower than in September and amid sharp cost inflation pressure, according to the latest report from S&P Global.
The seasonally adjusted Czech Republic Manufacturing Purchasing Managers’ Index (PMI) posted 42.0 in October, still indicating a monthly deterioration.
Total new business slowed to the largest extent in a year.
GDP in 3Q decreased by 0.3% q/q and by 0.6% y/y.
The increase in industrial production during September is attributed to higher output in manufacturing and mining industry, while there was a decrease in the utility sector.
Analysts now expect the CPI to continue easing in November and December but at a clearly slower rate.
Most significant driver of annual inflation was the 7.3% increase in prices of food and non-alcoholic beverages.
New passenger and light commercial vehicle sales in Russia in September jumped by 120% year on year to 116,234 vehicles.
IMF forecasts steady GDP expansion of 3.6% in 2023 and 3.3% in 2024 driven by tourism and construction sectors.
Bosnia’s industry has constantly lost ground since early 2022 when the post-covid recovery peaked.
Benchmark has moved up 2,650bp since June from 8.5% to 35%. But official inflation is running at 62%.
The smaller-than-expected contraction offers a strong hint that the recession in the retail sector might be coming to an end.
Annual inflation in Russia reached 6.3% as of October 9, accelerating further from 6% seen in September, according to the latest data by the Central Bank of Russia (CBR). Separate estimates by the Ministry of Economic Development showed that based on
Romania’s current account (chart) deficit in the 12 months to August 2023 narrowed by 16% y/y to €21.30bn thanks to the sharp 37% plunge in August (to €1.91bn), the data published by the National Bank of Romania (BNR) show.
Total gas reserves in the European Union have surged to an all-time high just as the heating season begins, according to Gas Infrastructure Europe (GIE), an industry group representing European gas operators.
It is the sixth successive fall in core inflation after a series or rises that lasted nearly two years.
The reading arrived in line with the flash estimate published by GUS in late September and confirmed the easing of inflation by 1.9pp compared to August.
Industrial output fell 5.3% y/y (chart) in August and by 6.1% y/y when adjusted to working days, the Central Statistics Office (KSH) confirmed on October 13 in a detailed reading. The disappointing data followed a positive surprise in output in July.