Ukraine's birth rate plummets to 300-year low as country’s population collapses
16 hours ago
Slovak retail sales expanded 7.8% y/y in May, data released by the statistics office on July 4 showed.
The result extends a trend of recovery in retail turnover that has run since November, and extends a rise in pace this year. Aside from a blip in February, sales growth has remained above 6.5% throughout 2017. Previously, the sector suffered several months of poor readings in the middle of 2016, despite the tightening labour market.
Retail sales growth was capped below 2% in the second and third quarters of 2016. That cast doubt over the strength of household consumption, which was left to do most of the heavy lifting last year in a Visegrad region struggling for investment and consistent industrial output.
The continued recovery in May extends hope that consumption can remain a prop for the economy this year. The 0.8% rise in monthly terms suggests the sector is gaining momentum in the second quarter. Across the first five months of the year, turnover grew 6.2%.
In particular, the y/y headline growth was driven by sales in categories other than food. That suggests high consumer confidence, as discretionary spending rises. A 9.6% gain in food and beverage services offers a similar message.
The stuttering form of retail sales saw growth across 2016 limited to 2.2%. Still, that was faster than the 1.7% recorded in 2015, which was a sharp slowdown from 3.6% in 2014.
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Data
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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Slovak inflation eased further to 2.3% in March
Prices in the alcohol and tobacco sector increased by 19% y/y, including the 9.1% spike in tobacco prices as a result of the new consumption tax.
Polish inflation eases further to 2% y/y in March
The inflation rate landed within the National Bank of Poland’s target of 1.5%-3.5% for a second successive month
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