The result suggests consumption remains in rude health – backed by fast-growing wages - and can continue to drive economic expansion in early 2017.
Two extra working days in January had an effect, and seasonally adjusted the reading drops to 4.1%, and even -0.2% m/m, but the result still shows decent momentum at the start of the year.
Hungary’s economy grew just 1.6% in the fourth quarter of 2016, according to unadjusted preliminary data, statistics office KSH reported on February 14.
The struggle of the carmaking sector to stabilize output remains the main culprit for the continued poor performance of Hungarian industry, data for December released by statistics office KSH on February 14 confirmed.
Hungary’s CPI increased by 2.3% in January from 1.8% the previous month, data from statistics office KSH showed on January 13. The rise was largely in line with market expectations.
With price growth picking up speed on December’s growth of 2.2% y/y, January was the seventh successive month of rising CPI.
Estonia's consumer price index (CPI) grew 2.7% in annual terms in January, data from Statistics Estonia showed on February 7. The reading shows price growth in the first month of 2017 was at its highest since August 2013.
Following a return - even if feeble - to growth in November, Hungarian industry slumped back into decline in December, statistics office KSH reported on February 7.
Hungary’s retail sales growth slowed in October to 2.6% y/y according to raw data and to 3.2% adjusted for calendar effects, a report released by statistics office KSH on February 3 shows.
Latvia's calendar-adjusted industrial production expanded 4.9% in 2016, picking up speed on the 3.4% growth in 2015.
Poland’s GDP grew 2.8% in 2016, the slowest expansion in three years.
Estonian industrial production grew 2.3% in 2016, driven by expanding energy production and growth in manufacturing.
Estonian retail sales grew 4% y/y in 2016, according to preliminary data released by Statistics Estonia on January 31.
The Latvian economy grew 1.6% in 2016, a flash reading from the Central Statistical Bureau (CSB) indicated on January 30.
Lithuanian GDP surprised to the upside as it finished 2016 with growth pushing to 2.2% y/y.
Hungarian retail sales increased 4.5% y/y in November, according to both raw and calendar-adjusted data, statistics office KSH reported on January 25.
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