The ruble is rising to become the main currency for settling Russia’s foreign trade payments, reducing the role of the Chinese yuan in the process, the Central Bank of Russia reported on April 8.
The country’s robust car sector pushed an otherwise unconvincing result into growth.
Winter is over, as the EU gas tanks switch from withdrawals to filling mode again in preparation for next winter. Injection into the gas tanks started on April 1, a week earlier than in 2023 and started at an all-time high record level of 59.3% full.
Year on year, retail sales increased by 3.2%, after falling by 0.1% in January.
Anecdotal evidence points to stronger demand conditions that helped revive growth in new orders and activity.
Russia’s manufacturing sector in March 2024 continued to see a sharp improvement in its health, according to latest PMI reports from S&P Global.
Poland's Purchasing Managers' Index (PMI) inched up 0.1 points to 48 in March (chart), the economic intelligence company S&P Global said on April 2.
Czechia’s Manufacturing Purchasing Managers’ Index, compiled by market intelligence company S&P Global, continued to inch upward in March, posting 46.2.
If demand trend continues, growth-building momentum could be seen in second quarter.
Polish CPI grew 1.9% year on year in March (chart), below the consensus line of 2.1% y/y and 1.1pp below the February reading, a flash estimate from Poland’s statistical office GUS showed on March 29.
Companies respond to rise in new orders by ramping up production, employment and purchasing activity.
Index up to 49.3 points in March as managers become more optimistic based on growth expectations, past investments and product diversification.
World Bank expects annual growth of 2.5% this year, down from 4% in 2023.
Ukraine’s banking sector had a strong year in 2023, ending with a cumulative UAH85.5bn profit, despite taking a UAH44bn hit in December when the banks were forced to pay a 50% one-off tax on profits.
Patriotism in Russia is at an all-time high, according to a recent poll conducted by the Russian Public Opinion Research Center (VTsIOM) published on March 29. An overwhelming majority (94%) of Russians identify themselves as “patriots.
The share of non-resident holders of Russian Finance Ministry’s OFZ treasury bills fell again in February to 7.2%, or RUB1.4 trillion, of the total outstanding bonds worth RUB20.1 trillion ($217bn), as Russia’s state-owned banks take up the slack.
Russia external debt has been falling steadily and reached $326.6bn in December 2023, compared with $322.3bn in the previous quarter and $383.6bn at the end of 2022. It could pay the entire amount off tomorrow – in cash.
Poland exported 115,000 tonnes or 13% of the EU’s total chocolate exports in 2023.
Czech GDP increased in the fourth quarter by 0.4% quarter on quarter and by 0.2% year on year following a revision by the Czech Statistical Office.
Russian industrial production growth surged in February to 8.5% y/y, easily outstripping analysts' expectations.