Estonia's consumer price index (CPI) grew 1% in annual terms in November, data from Statistics Estonia showed on December 7. As in recent months, the increase was driven by growing prices of alcohol and tobacco products.
After achieving a top fiscal goal of 2016, the central bank says it will maintain "moderately tight" monetary policy for at least six more months.
Hungarian industrial output declined for a second consecutive month in October. The poor start to Q4 suggests the economy will struggle to hit the government's target for full year GDP growth.
Hungary’s economy grew 2.2% y/y in the third quarter, statistics office KSH said on December 6, revising its preliminary estimate upwards by 0.2pp.
Questions raised over goverment's projections for steady growth rates of 4%-5% in the coming years.
Opec may have agreed a production cut deal with oil producers, including a 300,000 barrel cut in Russian production, but Russia’s oil production continues to run at record highs and leading companies are not keen to cut.
The surprise fall suggests is it less likely the Turkish central bank will follow up last month’s interest rate hike with another this month.
Consumer prices in Kazakhstan increased by 8.7% y/y in November, easing from a 11.5% hike in October.
The Russian business weekly Expert finds that firms operating in the oil & gas sector continued to dominate in its annual list of Russia’s 400 largest companies, with Gazprom in the top slot
Russian GDP was down 0.5% y/y in October, 0.7% y/y contraction for 10M16.
Extremely high levels of poverty by European standards have pushed Turkey’s Despair Index up over the 40% mark – a level usually associated with popular protest and coloured revolutions.
Polish manufacturing picked up in November with the Markit PMI manufacturing index rising from October’s 25-month low of 50.2 to 51.9 in November, indicating a stronger overall rate of growth in the sector.
Polish GDP expanded 2.5% on the year in the third quarter. The disappointing growth was driven by the biggest fall in investment since 2010, leaving consumption the lone pillar of economic growth. The worry is that will fade early next year.
Poland's consumer price index remained unchanged y/y in November, the first time prices did not drop since July 2014, statistics office GUS announced in a flash estimate on November 30.
The Latvian economy grew a seasonally adjusted 0.3% y/y in the third quarter, a second reading from the Central Statistical Bureau (CSB) showed on November 30.
Lithuanian GDP grew an unadjusted 1.7% y/y in the third quarter of 2016, according to a second estimate released by Statistics Lithuania on November 30.
Debt surges overnight to reach 37.9% of GDP as government issues bonds to cover losses from $1bn bank frauds.
The arrest of the economy minister for allegedly taking a $2mn bribe has cast a shadow of widespread corruption at the heart of government and to a lesser extend on President Vladimir Putin, according to the Levada Center.
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