Data
Russia’s industrial production slows to 6.8% as low base effects wear off
As the low base effects fade, the growth in industrial production (IP) is showing signs of moderating y/y. IP growth in July slowed to 6.8% y/y vs. Bloomberg consensus expectations of 8% and estimates of 8.2% y/y.
Bosnia's consumer price inflation at 1.7% in June
Annual consumer price growth accelerated in July, but prices were down compared to June.
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Ukraine retail trade increases 10.1% in July 2021
Ukrainian retail sales increased 13.0% year on year in 7M21, slowing from 13.8% y/y growth in 1H21, Ukraine’s State Statistics Service reported on August 20.
Russia gets $18bn in IMF's record giveaway
Russia has received $18bn worth of Special Drawing Rights (SDRs) in the latest $650bn (456bn SDRs) transfer of the International Monetary Fund (IMF) that will take its total reserves to a new all time high of $619bn.
Slovak unemployment rate stands at 7.66% in July
Jobless figures fall for fourth consecutive month.
Serbian central bank raises 2021 GDP growth projection
NBS lifts 2021 growth forecast to 6.5% after strong performance in first half of year.
Russia’s RTS stock market index close to 10-year highs
Russia’s stock market is flying and approached a 10-year high on August 17 as the index reached 1,690 – its highest level since 2012.
Romania’s GDP rises by 1.8% q/q in Q2, below expectations
The growth rate was slower compared to consensus expectations for growth rates of around 2% q/q and above 14% y/y.
Moldova’s trade gap doubles in Q2
Exports increased by 31% y/y to $647mn while imports soared by 67% y/y to $1.72bn.
Ukraine’s economy fell back into recession in the second quarter on a q/q basis
Ukraine’s economy fell back into recession as the fallout from the pandemic and soaring inflation that caused the National Bank of Ukraine to dramatically hike interest rates start to weigh on growth.
Russia’s economic growth continues to surprise on the upside with 10.3% expansion in 2Q21
Russia’s GDP was up 1.3% vs. 4Q19, although it is still 3 percentage points below pre-COVID-19 trend levels.
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Ukraine goods trade balance switches to $0.2bn deficit in June
Ukraine’s goods trade balance switched to a deficit of $230mn in June from a surplus of $257mn in May, according to Ukrstat.
Romania ups official growth forecast for this year by 2pp to 7%
The CNP’s forecast is rather cautious compared to the double-digit growth rate mentioned by Prime Minister Florin Citu recently as possible for this year.
Poland’s inflation shoots to 5% y/y in July
A move to quash accelerating inflation from the NBP is, however, unlikely before it is clear how big the impact of the expected fourth wave of the COVID-19 pandemic will be.
Poland’s GDP soars 10.7% y/y in Q2 after pandemic recession
Growth expected to slow if government reimposes COVID-19 restrictions in the autumn.
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No surprises as Turkey’s central bank again holds policy rate
Prior to rates meeting president Erdogan was pushing for summer easing.
Kazakh retail sales up 7.2% y/y in Jan-July
Kazakh retail sales jumped by 7.2% y/y in January-July, reaching a value of Kazakhstani tenge (KZT) 6,482.8bn ($15.28bn), according to latest data published by Kazakhstan's State Statistics Committee.
Czech July inflation at its highest level since mid-2020
Czech consumer prices increased by 3.4% year-on-year in July, the highest figure since July last year, driven by higher prices in transport (by 18.5%) up by 0.6 percentage points (pp) month-on-month.
Energy prices bring Romania’s inflation to 5% in July
Consumer price inflation in Romania reached 4.95% in July, rising sharply from 3.8%-3.9% in May-June.
Watcom Shopping index overtakes 2020 level of activity as retail recovers on rising incomes
The Watcom Shopping index overtook the 2020 level of activity in week 30 of this year as the retail business recovers on the back of the post-crisis economic growth and rising incomes.
