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Russia automotive output slumps to levels of first months of Ukraine war as demand slumps
Russia’s automotive industry — once a symbol of the country’s industrial ambitions — has entered another sharp downturn, reversing the fragile recovery seen in 2023 and early 2024.
Emerging Asia overtakes the UK per-capita benchmark
For the first time since the Industrial Revolution, the major emerging economies including China, India and Indonesia have seen GDP as a percentage of the UK’s GDP increase as the leading BRICS countries start to overtake the Developed Markets.
October PMI shows Kazakhstan’s manufacturing declined for fifth consecutive month
Renewed fall in new orders. Some firms point to difficulties receiving goods via stringent Russian customs checks.
October PMI shows little light at end of tunnel for Turkish manufacturing
Currency weakness and subdued demand plague producers in 19th consecutive month of contraction.
Uzbekistan’s annual inflation edges down to 7.8% in October
Lowest reading posted since 2017. Central bank's year-end forecast is 8%.
Official Turkish inflation creeps down 0.4pp to 32.9%, complaints over high real rates growing louder
Finance industry pushing for pause in monetary easing, but real economy actors and exporters are hurting.
Russia’s manufacturing PMI falls to its lowest level since May 2022 in October
Russia’s manufacturing sector saw a deeper contraction in October, with output, new orders, and business confidence all weakening, according to the latest Purchasing Managers’ Index (PMI) data from S&P Global, published on November 1.
Czech growth accelerates as domestic demand-side pressure builds
The Czech economy delivered an unexpected acceleration in the third quarter, marking a clear shift from its earlier position as a regional underperformer to one of Central and Eastern Europe’s fastest-growing economies.
Eurobonds of Istanbul-listed Zorlu units offer attractive yields amid rating downgrades and no default expectation
Debut paper currently offering 14-15% yield.
Ruble strengthens as sanctioned oil companies repatriate cash
The Russian ruble strengthened after the Trump administration imposed oil sanctions on Russia’s leading oil companies, extending a rally that began after the Biden administration imposed oil sanctions on Russia in January.
Russia's central bank cuts rates by 50bp to 16.5%
The Central Bank of Russia (CBR) cut rates by 50bp on October 24 to 16.5% in an effort to boost flagging growth despite fears of a revival of inflationary pressure due to an upcoming two percentage point hike in the planned VAT rates.
Ukraine's trade deficit doubles to $42bn putting new pressure on an already strained economy
Ukraine’s trade deficit has doubled to $42bn as exports fall and imports balloon. The balance of payments deficit is starting to turn into a serious problem that could undermine the country’s macroeconomic stability.
BYD surpasses Tesla to become EV market leader – Statista
While Chinese manufacturer BYD already pulled ahead of Tesla in production volume last year, with 1,777,965 battery electric vehicles (BEV) produced in 2024 (4,500 more than Tesla), the American manufacturer remained ahead in sales.
Akbank launches autumn syndicated loan renewals season for Turkish banks at lower costs
Ten banks to roll over combined sum of $6bn.
Estonia has the world’s most competitive tax systems for the 11th year in a row – STATISTA
The Tax Foundation has released its International Tax Competitiveness Index which highlights the most competitive tax rates in different countries around the world. For the 11th consecutive year, Estonia had the highest score in the index.
EU rare earth supply dominated by China and Russia - Eurostat
The European Union remains heavily dependent on China and Russia for rare earth imports, with nearly three-quarters of its supply sourced from the two countries in 2024, according to data published by Eurostat and reported by Statista.
Turkey's central bank remains cautious, delivers 100bp rate cut
Decision comes on eve of next hearing in trial that could dislodge leadership of opposition CHP party.
Polish retail sales return to solid growth in September
Polish retail sales grew 6.4% year on year in constant prices in September, picking up from a 3.1% y/y rise in August, the statistics office GUS said.
Uzbekistan’s nine-month foreign trade nears $60bn
Export growth of 33% and import expansion of 16% y/y produce $6.4bn deficit.
Hungary’s central bank leaves rates unchanged
National Bank of Hungary expects inflation to fall back into the tolerance band by early 2026, with the 3% target sustainably achievable in early 2027 under the current strict policy settings.