Non-Euro Europe Commercial Property Outlook Scandi retail to tread water; full steam ahead in CEE In Scandinavia and Switzerland, retail will be the clear loser over the next few years, whereas Scandinavian office and industrial markets are set to outperform, led by Stockholm. In emerging Europe... 29th March 2019 · 1 min read
Emerging Europe Economics Weekly Turkish local elections, Russian GDP figures Concerns about Turkey’s economy and financial markets are unlikely to fade even once Sunday’s local elections are out of the way. If anything, we think that they will intensify. Meanwhile, expected... 29th March 2019 · 1 min read
Frontier Markets Wrap Key frontier market currencies hold up well, for now Frontier market currencies have fared better than their emerging market counterparts during the recent market turmoil. But their balance sheets are generally much weaker, making currencies vulnerable... 28th March 2019 · 1 min read
Emerging Europe Data Response Economic Sentiment Indicators (Mar.) March’s set of ESIs point to GDP growth in Central and Eastern Europe holding up at 4.0% y/y in Q1. But evidence that the weakening external environment is starting to take a bigger toll the region’s... 28th March 2019 · 1 min read
Emerging Markets Activity Monitor EM GDP growth slowing in Q1 The slowdown in EM GDP growth over the second half of 2018 worsened at the start of this year. EM GDP growth in Q1 is shaping up to be the weakest since Q4 2016. 27th March 2019 · 1 min read
Emerging Markets Economics Chart Pack EM currencies come back into the firing line A spell of relative calm for EM currencies was broken this month, as several including the Argentine peso, Turkish lira, Brazilian real and South African rand fell sharply, despite a more dovish US... 22nd March 2019 · 1 min read
Emerging Europe Economics Weekly Strong data, Turkish MPC in a bind, Hungary rates The first batch of hard activity data for February out of Emerging Europe – published this week in Russia and Poland – were surprisingly strong, but it seems unlikely that this will be sustained as... 22nd March 2019 · 1 min read
Emerging Europe Chart Pack Emerging Europe inflation bucking the trend Emerging Europe was one of the few parts of the world where inflation rose last month. In the Czech Republic, Hungary and Romania, this was driven by rapid wage growth which has pushed core inflation... 22nd March 2019 · 1 min read
Emerging Markets Economics Update Picking apart the EM export slowdown The most notable explanation behind the recent sharp slowdown in EM export growth is the fall in commodity prices. But there are signs that softer global demand has also taken its toll. 20th March 2019 · 1 min read
Emerging Markets Trade Monitor EM export slump worsens The slump in EM exports deepened in the first few months of 2019, and with headwinds from low commodity prices and slower global growth likely to persist, we expect exports to remain extremely weak... 15th March 2019 · 1 min read
Emerging Europe Economics Weekly Ukrainian election, signs of stimulus in Russia Pro-IMF comments this week from the front-runner in Ukraine’s presidential election race (and comedian), Volodymyr Zelenskiy, reduce the risk that this month’s vote could trigger an adverse reaction... 15th March 2019 · 1 min read
Emerging Europe Data Response Turkey Industrial Production (Jan.) The stronger-than-expected Turkish industrial production data for January suggest that the worst of the recession has passed. That said, the recovery is likely to slow-going and our forecast for GDP... 14th March 2019 · 1 min read
Emerging Markets Economics Update What to make of the surge in EM FX bond sales? The rise in EM sovereign foreign currency bond sales this year has been concentrated in larger EMs with relatively strong balance sheets. We are more concerned about heavy foreign currency public debt... 13th March 2019 · 1 min read
Global Economics Update Will emerging markets outperform in the long-run? The broad tailwinds that lifted growth across the emerging world over the past two decades won’t be repeated and, as a result, GDP growth will be around two percentage points weaker over the next... 13th March 2019 · 1 min read
Emerging Markets Economics Update Narrowing EM external deficits reduce currency risks Current account deficits have started to narrow in many major EMs, most notably Turkey and Argentina, reducing the risk of large currency sell-offs. That said, there are a few countries, such as... 12th March 2019 · 1 min read
Emerging Europe Data Response Turkey GDP (Q4) The Turkish economy formally entered into recession in the final quarter of last year and, while the worst of the downturn may now have passed, the weak carryover means that we expect GDP to decline... 11th March 2019 · 1 min read
