Latvian retail sales grew a calendar adjusted 3.1% y/y in June, a slowdown on the 3.8% annual expansion recorded the previous month, data from the Central Statistical Bureau (CSB) showed on July 28.
July’s figure of 103.4 is the best figure seen since November 2013 and comes after the index fell back into negative territory in June.
Russia may change from a net creditor into a net borrower, as the second of its three surpluses is expected to go negative next year. But with its tiny external debt and imminent application of the so-call fiscal rule, Russia can easily afford it.
Seasonally-adjusted retail sales rose by 7.8% y/y in June, driven by rising household consumption and the strong tourist industry, despite troubles at local retail giant Agrokor.
Ukraine’s GDP was up by 2.5% y/y in the first half of this year, which is also in line with the result in the first quarter, according to economy ministry estimates.
As anticipated, Turkey’s central bank, amid its battle against double-digit inflation, on July 27 kept its one-week repo (8%), overnight lending (9.25%) and borrowing (7.25%) rates on hold.
Lithuanian retail sales grew an unadjusted 3.4% y/y in June in constant prices, Statistics Lithuania reported on July 27
Poland and Turkey’s stock markets are soaring, up 38% and 35% respectively, making them the best performing markets in the MSCI EM universe. But Russia is in its traditional place of worst performing market YTD, down 15%.
Increase in lending driven by both consumer and corporate segments, while the main engine remains the retail mortgage segment.
Romania's banking system is still a net borrower vis a vis its non-government customers but is shifting toward a net lender position for the first time since the international economic crisis.
Romania has had three prime ministers since the start of 2017, and around 150 ministers since 1990.
More Romanians considering a move to Cluj Napoca than either Bucharest or abroad, in contrast with emigration trend seen in recent years, World Bank study finds.
Economic growth in Kazakhstan given added drive by relaunch of giant Kashagan oil field and moderate economic recoveries of main regional trading partners.
After hitting a near-3-year high of 112.4 in June, Turkey’s business confidence index declined to 109.5 in July, central bank data showed on July 25, with the general business situation sub-index down.
Russia has met the production cut target agreed with Opec in May and produced 300,000 less barrels of oil than in October, just after the agreement was signed, according to Energy Minister Alexander Novak.
Ukraine’s industrial production continues to rise steadily up 3.8% y/y in June from 1.2% in May. The gain shows that industrial activity is picking up as are consumption and construction, but agricultural production is down due to bad weather.
The International Monetary Fund (IMF) confirmed it sees the Russian economy gradually returning to health this year.
The expansion in June marks the tenth straight month of growth.
After consumer prices declined in 2016, the International Monetary Fund expects annual average CPI will reverse to inflation of 1.9% in 2017.
Police step up fight against corruption and organised crime as Tirana aims to start EU accession talks.