Emerging Europe Data Response Polish Ind. Production & Retail Sales (Mar.) The raft of strong Polish activity data for March was flattered by calendar effects but, even so, the economy clearly ended the first quarter of the year on a strong note. All in all, it looks like... 20th April 2015 · 1 min read
Emerging Europe Economics Update Polish MPC shrugs off concerns about deflation and strong zloty Having left the policy interest rate unchanged at 1.5% earlier today, the Polish National Bank’s governor, Marek Belka , dismissed suggestions that the strengthening zloty and March’s weaker-than... 15th April 2015 · 1 min read
Emerging Europe Economics Focus Brightening outlook for Central European consumer markets Following a torrid few years after the global financial crisis, Central European consumer spending has started to recover gradually over the last eighteen months and there are reasons to expect this... 14th April 2015 · 1 min read
Emerging Europe Economics Update Hungary’s Sunday trading ban symbolic of reform backsliding The decision taken by the Hungarian government to ban Sunday trading is unlikely to have a major impact on the economy at an aggregate level. But as we explain in this Watch, it may lead to a shift in... 9th April 2015 · 1 min read
Europe Commercial Property Update Will stronger industrial output drive CE industrial rental growth? A combination of strengthening industrial output and further growth in the logistics sector will underpin industrial rental levels in Central Europe this year and allow them to pick up from 2016. 2nd April 2015 · 1 min read
Emerging Europe Chart Pack Central Europe shaping up well at the start of 2015 Despite concerns about deflation, a recession in Russia and sluggishness in the euro-zone, the latest data out of Central Europe have been surprisingly robust. Industrial production growth has... 25th March 2015 · 1 min read
Emerging Europe Economics Update Polish easing cycle at an end, policy to stay extremely loose The Polish MPC was uncharacteristically forthright in its statement that today’s 50bp cut in the policyinterest rate, to 1.5%, marked the end of the easing cycle. But it’s clear that weak price... 24th March 2015 · 1 min read
Emerging Europe Data Response Polish Ind. Production & Retail Sales (Feb.) Poland’s industrial production and retail sales data for February suggest that the economy grew by a solid 3% y/y or so last month. As a result, even though the economy fell further into deflation... 18th March 2015 · 1 min read
Emerging Europe Economics Update Ukrainian bonds fall further as debt talks start The start of debt restructuring negotiations in Ukraine has been accompanied by further losses on the country’s foreign currency government bonds. Meanwhile, currencies in Central Europe have weakened... 17th March 2015 · 1 min read
Emerging Europe Data Response Poland CPI (Feb.) & Czech IP & Retail Sales (Jan.) The weaker-than-expected 1.6% y/y drop in Polish consumer prices last month was driven largely by an even steeper fall in petrol prices. Meanwhile, Czech activity data released today show that the... 13th March 2015 · 1 min read
Emerging Europe Chart Pack Russian consumers feel the squeeze The latest data have given mixed signals on the performance of Emerging Europe’s economies. The encouraging news is that growth in much of Central Europe (particularly Poland and Hungary) seems to be... 25th February 2015 · 1 min read
Emerging Europe Data Response Russia Retail Sales, Investment & Ind. Prod. (Jan.) The release of January’s activity data for Russia was delayed by two hours today but when they finally arrived they brought further evidence that consumers are bearing the brunt of the economy’s... 18th February 2015 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Occupier and investment indicators fall sharply in Moscow A softening of economic growth in many countries across both Emerging Europe and non-euro-zone Western Europe helps to explain the relative lack of action in terms of rental movements in Q4. The big... 18th February 2015 · 1 min read
Emerging Europe Data Response Poland Consumer Prices (Jan.) The larger-than-expected drop in Polish inflation in January, to -1.3% y/y, should seal the deal on an interest rate cut at the next MPC meeting on 4 th March. 13th February 2015 · 1 min read
Emerging Europe Economics Update Polish interest rate cut coming in March Having left its policy interest rate unchanged at 2.0% earlier today, the Polish MPC pretty much confirmed at the post-meeting press conference that a rate cut is on the way in March. For now, we... 4th February 2015 · 1 min read
Emerging Europe Data Response Poland GDP (2014) The preliminary estimate of Polish annual 2014 GDP, which showed an expansion of 3.3% over the year as a whole, is consistent with a modest slowdown in economic growth from 3.3% y/y in Q3 to 3.0% y/y... 27th January 2015 · 1 min read
