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Ford drives hike in car production in Romania
5 days ago
The Latvian economy grew a seasonally adjusted 3.9% y/y in the first quarter, a flash reading from the Central Statistical Bureau (CSB) showed on May 3.
The result shows a welcome acceleration in economic growth of as much as 1.7pp compared to the adjusted reading from the fourth quarter of 2016. The January-March economic expansion is the fastest since the third quarter of 2015 and the third consecutive quarter of accelerating growth.
Unadjusted growth came in at 3.9% y/y as well, a significant increase on the disappointing 2.6% annual expansion recorded the previous quarter. In quarterly terms, the economy grew 1.5%.
A strong performance across the key sectors of the economy drove the growth. There was an 8% y/y expansion in construction. The sector proved a significant drag during much of 2016 but is currently embarked on a recovery as take-up of EU funding improves. Industrial production grew 10%, while the services sector gained 3%.
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Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
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