Data
Czech unemployment drops to a two decade low of 2.7% in April
Czech unemployment rate dropped to 2.7% in April from 3% in March, at its lowest level since June 1997, due to the continuing start of seasonal work, according to data by the Labour Office published on May 10.
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Belarus foreign reserves increased by 4.5% m/m in April
The foreign exchange reserves of Belarus increased by $322.7mn, or 4.5% month-on-month, to $7.6bn in April following a 2.1% m/m growth in March, the National Bank of Belarus (NBB) said in a statement on May 4.
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Czech PMI falls to its lowest level since December 2012
The Czech IHS Manufacturing Purchasing Managers Index (PMI) dropped further to its lowest level since December 2012, to 46.6 in April from 47.3 in March, driven by a strong decline in client demand
Czech National Bank hikes its interest rates for the first time in 2019
The Czech National Bank (CNB) increased the two-week repo rate by 25 base points to 2% from 1.75%, the highest level since February 2009.
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Ukraine foreign reserves decrease by 0.5% m/m in April to $20.5bn
Ukraine's international reserves decreased by 0.5% month-on-month to $20.5bn in April following a 2.1% m/m growth in March, the National Bank of Ukraine (NBU).
Environment for SMEs improved in Western Balkans, Turkey but potential still unexploited
SMEs are under-represented in international trade and their contribution to value added remains low, the latest SME Policy Index finds.
Consumption the main growth driver in Romania as retail sales soar in 1Q19
Romania's average retail sales index was up 8.4% y/y in 1Q19, the highest annual growth rate in the past five quarters and no surprise after the net average wage rose by 14% y/y in January-February.
Russia's Services PMI eases notably in April, composite output down
Russia's services sector posted a notable slowdown in April, as the May 6 report by IHS Markit showed the softest rise in services output since June 2018, while the rate of new business growth slowed down to a ten-month low.
Russian crude production down 0.6% m/m in April, gas output rose 3.9% y/y
The decline in Russian crude output continued to be driven by the production cuts at integrated oil companies under the OPEC+ agreement. The exception was Gazprom Neft, which increased crude output 3.3% m/m.
Investment flows into EMs up – except Russia
Non-resident investment flows into emerging markets equity was up in April to $38bn in April, except Russia which saw $2.8bn of outflows as sanctions fears reappear.
Russia’s PMI remains in the black on rising new orders but slows from March
Russian manufacturers registered a moderate improvement in operating conditions in April on the back of growing production and a strong increase in client demand, but activity slowed from March’s strong result.
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Prague recorded the lowest unemployment rate of 1.3% again among EU regions
Czech capital Prague again posted the lowest unemployment rate in the European Union of 1.3% in 2018, followed by Czech South-West region, according to Eurostat data published on April 29.
Bond flows into EMs and Russia flashing red, says BCS GM
Bankers warned that bond markets were “flashing red” after nearly a billion dollars left emerging market bonds in the last week, reports BCS Global Markets.
Russia’s reserves top $490bn in April, highest level since 2014
The CBR has been able to build up reserves thanks to the record high current account surplus that topped $115bn in 2018.
Russia’s corporate profits rise strongly year-on-year in first months of 2019 but a boom is still a long way off
The various crises of recent years have caused a consolidation with the result that profits have become increasingly concentrated in the biggest companies and are growing.
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Putin’s popularity rises mildly in April, but governors' popularity rises dramatically
The mood of the population in Russia improved in April as approval ratings rose mildly across the board, according to the latest political polls from independent pollster the Levada Center.
Russia's business confidence turns in another -2% result in April
There was a wobble last autumn, but since the start of this year business has been cautiously optimistic about how the rest of the year will turn out.
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Russia’s CBR keeps rate unchanged, allows for cuts in 2Q19
As expected the Central Bank of Russia (CBR) kept rates on hold at 7.75%, but analysts say it will cut them at least once and maybe twice later this year
Russian foreign debt increased slightly in 1Q19
Russia’s external debt increase slightly in the first quarter, mainly due to the government’s debt to foreigners, Bank of Finland Institute for Economies in Transition (BOFIT) reports.