The reading is well below the gain of 8.4% registered in the first month of the year, but despite the slowdown, shows that growth remains solid.
The reading marks a sharp slow down on the 9.6% expansion recorded in January, but remains a good result.
Employers in Slovenia's manufacturing and construction sectors have strongest outlooks for Q2 2017.
Poland's consumer price index grew 2.2% y/y in February, adding 0.4pp to the January reading, statistics office GUS announced on March 14.
Slovak industrial production continued its recovery at the start of 2017, as output grew 7.6% y/y in January, the statistics office reported on March 13.
Southern Gas Corridor drives FDI as Tbilisi seeks to become node for transport of freight and oil and gas between Europe and Asia.
Inflation was 4.6% y/y in February, according to Rosstat, down from 5% in January and in line with expectations
The Lithuanian consumer price index (CPI) grew 3% y/y in February, accelerating on the 2.3% annual growth recorded the previous month, Statistics Lithuania announced on March 8.
Latvia's consumer price index (CPI) climbed 3.3% y/y in February, data released by the Central Statistical Bureau (CSB) on March 8 showed.
Turkey’s industrial output rose for the fourth straight month in January. The calendar-adjusted industrial production index increased by 2.6% y/y in January, slightly ahead of the market consensus forecast for a 2.3% gain.
After rising strongly in the second half of 2016, the Watcom shopping index got off to its worst start in three years in the first weeks of 2017.
The reading adds as many as 0.7pp to the strong growth recorded in January, putting CPI at its highest since July 2013. As in many other economies in the region, the gain is being driven by fast-expanding prices of motor fuel and food.
Latvia's calendar-adjusted industrial production grew 4.7% y/y in December, slowing from an expansion of 11.5% the previous month, the Central Statistical Bureau (CSB) reported on March 6.
Turkey’s yearly CPI quickened to 10.13% in February, marking the first double-digit price growth since April 2012’s 11.14%. PPI also continues to ring alarm bells. It hit a 9-year high of 15.36%.
Capital flight finally reversed in January with the first positive inflows of $2.4bn for the first time since the third quarter of 2015. And even that was only a temporary blip. Russia has been bleeding money every year since 2008.
Growth in both output and new orders moderated in February, and although the expansion remained solid, this puts into question the strong start of 2017 for Russia's industry.
The data shows that consumption remained largely alone as the driver of economic expansion in the fourth quarter.
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