The European Commission has given Poland two months to change the new disciplinary regime imposed on the country’s judges by the ruling PiS party.
The reading marks a slowdown of 1.9pp in retail turnover growth in comparison to y/y expansion recorded in May, seen by Erste analysts as a result of the calendar effect.
Ex-PM Beata Szydlo failed twice to be elected head of the European Parliament’s committee on employment and social affairs in what seems to be the result of the ruling PiS's anti-EU sentiment in domestic politics.
The core message for bankers and investors active in the CEE region should be: close to old records, potential for more but watch out for late cycle phenomena.
Inflation is expected to moderate in the second half of the year with the Polish Monetary Policy Council to remain dovish.
Economists from wiiw have revised upwards their forecasts for Central and Southeast European economies as wage-driven growth has stopped them from following the eurozone into a slowdown.
The pledge appears to have come to ease the tension between Huawei and the Polish government after an employee of the company and a former Polish security official were arrested earlier this year on espionage charges.
Governments of Central and Southeast Europe have already secured most of the funding they need for this year, but with more obligations maturing in 2020 they are expected to return to the markets on a large scale next year
Record-low rate results in fast-growing wages and buoyed consumer confidence, making household consumption a key driver of economic growth.
North Macedonia held its first ever gay pride march on June 29 with up to 1,000 people attending the event. There were pride marches in nearly all the CEE countries but the experience in each country is vastly different.
The retail park market is still in its infancy in CEE compared to Western Europe, says a report from Cushman & Wakefield, leaving plenty of room for catch-up growth, especially in smaller cities.
The indicator’s fall attests to the continuing deterioration of business conditions at Polish manufacturers, said IHS Markit which compiles the index — though industrial growth remained strong at the start of the year.
The decision has split the Council down the middle. Almost all of the western European members voted overwhelming to allow Russia back in. However, countries close to the Russian border voted against readmission.
Poland dropped the contested changes in December, but the European Commission pressed on with the case to enshrine in the EU’s legal order that any member state’s tinkering with the independence of the judiciary must be contained.
The slowdown was expected after sales spiked the previous month because of Easter but still is in line with Polish households’ general inclination towards increased consumption.
The headline figure is 1.5pp below the unadjusted figure recorded the preceding month but still attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment.