After the initial lockdown, sales of non-food goods defied the crisis and advanced steadily, posting a 10.8% y/y annual advance in Q1.
Headline CPI jumped to 4.3% year on year in April. The idea that the National Bank of Poland can mimic the accommodative stance of the Fed or ECB is increasingly debatable. In terms of inflation, Poland is closer to the emerging markets.
The seasonally adjusted IHS Markit Russia Services Business Activity PMI index slowed a little in April to 55.2, down slightly from 55.8 in March, but remains robustly above the 50 no-change level as services bounce back.
The main index of the Bucharest Stock Exchange, BET, gained 15.7% in the first four months of this year, with building materials producer Teraplast the top performer.
Russia and Ukraine are both emerging from the coronacrisis and have had very similar experiences, but as the recovery gets under way Ukraine is beginning to close the gap with Russia.
Higher interest rates also appear to have squeezed performance.
Analysts say that the PMI is currently reflecting the manufacturing sector’s problems in meeting demand but the problems appear to be temporary.
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 50.4 in April, down slightly from 51.1 in March, to signal the slowest improvement in operating conditions in the last four months.
Spirits in Russia are picking up as both Rosstat’s business and consumer confidence surveys delivered very positive results.
Despite the faster than expected growth, analysts remain confident that the central bank will keep its ultra-dovish policy until mid-2022 at least.
The Central Bank of Russia (CBR) has released the results of a survey on inflation expectations conducted in early April that show consumers' expectations for inflation have “gone through the roof”.
Slovenia’s consumer price index (CPI) went up by an annual 2.1% in April, accelerating from the slim 0.1% increase a month earlier.
March 2020 was the first month in which retail trade was dramatically affected by the coronavirus pandemic.
Real wages in Ukraine rose 9.5% y/y in March, accelerating from 7.6% y/y growth in February, the State Statistics Service reported.
Both real incomes and real disposable incomes were down in the first quarter of this year
Industrial production increased in the key manufacturing sector and in utilities, while the decline in mining output narrowed.
The index is measuring against the first weeks of last year’s pandemic lockdown.
The Western Balkans countries can expect only moderate growth between 2021 and 2023 as the damage caused by coronavirus pandemic will continue to depress investments and employment, a World Bank report warned.
The overwhelming majority of Russians (86%) consistently support the annexation of Crimea by Russia in 2014, even if they oppose Russian President Vladimir Putin, according to a recent poll by independent pollster the Levada Center.
Sentiment indicator was 0.5 pp above the long-term average in April, pushed up by confidence indicators for retail trade, services and construction.