Emerging Europe Chart Pack Central Europe picking up, Russia still in the doldrums The slowdown in Emerging Europe appears to have bottomed out in recent months and there are tentative signs of a turnaround in regional growth. At a country level though, it’s actually been a... 29th July 2013 · 1 min read
Emerging Europe Economics Update Hungary’s turn to “forward guidance” less bold than at first sight The National Bank of Hungary’s commitment to cut interest rates to a new record low of 3.0-3.5% over the coming months appears to be a bold step into the world of “forward guidance”. But the reality... 23rd July 2013 · 1 min read
Emerging Europe Economics Update Has Hungary really turned the corner? Hungary has been buoyed by a raft of good news over the past few months. Q1 GDP data showed that the economy exited recession, the budget deficit has narrowed to the extent that the European... 18th July 2013 · 1 min read
Emerging Europe Economics Focus Is Emerging Europe doomed to lag behind? There are encouraging signs that the slowdown in Emerging Europe has bottomed out in recent months and we think growth should strengthen over the second half of this year. The recovery will remain... 10th July 2013 · 1 min read
Emerging Europe Economics Update PMIs add to evidence of improvement in Eastern Europe The latest batch of Emerging European manufacturing PMIs adds to the growing sense that things are improving in the region. This reinforces our view that growth in the second half of this year is... 1st July 2013 · 1 min read
Emerging Europe Economics Update Credit conditions still tight Our latest Banking Heat Map suggests that credit conditions in most countries in Emerging Europe remain extremely tight. The main exception is Turkey, where credit growth has accelerated again in... 28th June 2013 · 1 min read
Emerging Europe Chart Pack Grounds for cautious optimism The latest activity data from Emerging Europe provide some grounds for cautious optimism. Growth in the highly open Central European economies appears to be picking up, albeit from low rates. And... 26th June 2013 · 1 min read
Emerging Europe Economics Update Hungarian and Polish easing cycles nearing an end Policymakers in Hungary and Poland look set to cut interest rates at least once more, probably next month, but we think easing cycles are nearing an end in both countries. 25th June 2013 · 1 min read
Emerging Europe Economics Update Protests hit Turkish markets Turkey’s financial markets have taken a pounding over the past few weeks as the recent wave of protests caused investors to take fright. Elsewhere, currencies and foreign currency bonds have lost... 19th June 2013 · 1 min read
Europe Commercial Property Update Hopes that CEE investment had turned a corner are dashed The likely drop in Central & Eastern European (CEE) investment volumes in Q2 will have dashed any hopes that the trend for activity might have turned a corner. Moreover, the recent sell-off in... 13th June 2013 · 1 min read
Emerging Europe Economics Update Q1 GDP breakdown provides glimmer of hope The breakdown of Q1 GDP across Emerging Europe showed that the region’s economy is probably in a slightly better shape than the (weak) headline growth figures would suggest. Accordingly, we think that... 6th June 2013 · 1 min read
Emerging Europe Economics Update Central European manufacturing showing signs of revival May’s PMIs provided some encouraging signs that manufacturing in Central Europe is turning the corner, helped by stronger demand from Germany. Worryingly though, the data indicate that the Turkish... 3rd June 2013 · 1 min read
Europe Commercial Property Update Will lower interest rates halt the rise in Budapest property yields? Yesterday’s cut in official interest rates in Hungary is good news for property markets in Budapest. But we are sceptical that the latest easing cycle is sustainable. And if, as we expect, interest... 29th May 2013 · 1 min read
Emerging Europe Economics Update Hungary’s scope to ease policy limited by FX debt The weakness of Hungary’s economy, coupled with below-target inflation, means that further interest rate cuts are likely over the next couple of months. However, we think the country’s high level of... 28th May 2013 · 1 min read
Emerging Europe Chart Pack Slump in regional growth may be bottoming out The raft of preliminary GDP data released earlier this month provided some hope that the region’s slowdown bottomed out in the first quarter of the year. Nonetheless, growth is extremely weak, at just... 24th May 2013 · 1 min read
Emerging Europe Economics Update Parent bank deleveraging easing The pace at which parent banks in Western Europe have scaled back funding for subsidiaries in Eastern Europe has slowed further since the start of the year. Nonetheless, credit conditions in much of... 21st May 2013 · 1 min read
