Data
Average gross wage in Slovenia up by a real 3.9% y/y in May
Wage growth accelerated from just 0.9% y/y in the previous month.
Polish retail sales ease growth to 8.6% y/y in June
Household consumption set to be one of the main drivers of Poland’s economic growth in 2021.
Natural disasters caused €80mn of damage to Croatian agriculture in 2021
Frost, flooding and pests all damaged crops in Croatia this year, raising fears of price increases.
Poland’s industrial production eases growth in June
Poland’s industrial production growth expanded 18.4% year-on-year at constant prices in June, after jumping 29.8% y/y the preceding month.
May industrial slowdown in Europe touches Moldova
Industrial production dropped by 7.8% m/m in May in the deepest monthly decline since the initial lockdown last March.
Georgia’s June domestic exports expand 18.5% versus two years ago
Against first half of 2020, exports, at $1.38bn, rose by 27.8% y/y and, more importantly when it comes to the long-term trend, grew 24.2% compared to 1H 2019.
Inflation in Ukraine stabilises at 9.5% y/y in June, NBU rates "hold" decision vindicated
Consumer prices in Ukraine increased by 0.2% m/m this June, the same as in June last year. As a result, annual inflation remained at 9.5% y/y. However, core inflation accelerated to 7.3% y/y from 6.9% in May.
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Russia producer price inflation comes off recent all-time high, but remains over 30% y/y
After exploding this year, Russia’s producer price index of inflation (PPI) peaked in May but still remains at record highs.
Putin's popularity stable but Duma remains the most unpopular institution in Russia
Russian President Vladimir Putin’s personal approval rating remains stable having risen from 65% in April to 67% in May before falling back to 66% in June – a level it has been sitting at for most of the last decade.
Romania’s current deficit up 85% y/y in January-May, FDI surges 3.2 times
Romania’s current account balance and foreign direct investment figures reveal a sharp increase in the country’s external deficit balanced by stronger FDI.
Polish CPI growth eases to 4.4% y/y in June
June expansion extends the period of ongoing high inflationary pressure in Poland.
North Macedonia’s central bank affirms key rate at 1.25%
North Macedonia’s central bank kept its key rate at the same level of 1.25% on July 14, as it assessed it appropriate for the current economic and financial conditions.
Bulgaria’s consumer prices speed up growth further in June
Bulgaria’s consumer prices increased 2.7% y/y in June, after rising by 2.5% year on year in May. The consumer price index (CPI) moved up 1.5% compared to December but dropped by 0.2% month on month
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Erdogan’s calls for rate cuts unmet as Turkey’s central bank sticks to 19% benchmark
Regulator cites risks in inflation outlook. Denied cheaper money, president may now turn to selling rapid rebound in economy.
Kyrgyz economy contracts by 1.7% in H1
Trend, however, suggests economic recovery may be taking hold.
Georgia's foreign trade in first half up 21.3% y/y
Georgia's foreign trade turnover recovered to pre-coronavirus crisis levels in Jan-Jun this year. The trade deficit was slightly smaller, yet amounted to 15% of full-year GDP.
Inflation wave reaches Moldova’s relatively closed economy
There are signs that Moldova’s economy, as small and relatively closed as it is, will not remain untouched by the inflationary wave.
Kosovo’s annual inflation speeds up to 2.4% y/y in June
Kosovo's inflation has been speeding up gradually every month since it turned positive in February.
Recovery piles upward pressure on Romanians’ low wages
Romanian workers have abandoned construction sites to return to jobs in Spain, while rural workers are leaving for seasonal jobs abroad, at the same time as local and foreign investors plan to set up new manufacturing facilities.
Romania’s foreign trade returns to pre-crisis rising trend
The return to normal for Romania means the return to wide trade deficits and the so-called “revenge spending” in the post-crisis period only smooths the return to that unsustainable path.
