Grain exports from Russia will exceed 47mn tonnes in 2019-2020 agricultural season, the head of the Russian Grain Union Arcady Zlochevsky estimated on September 20, as cited by Reuters.
While below market expectations, the expansion in August is still in line with Poles’ robust consumer spending that is driven by the good situation on the labour market, low unemployment and growing wages in particular.
Car manufacturing and output in the refining industry drove the contraction, which was not anticipated by analysts.
Slovakia's GDP growth is expected to slow to 2.4% year-on-year in 2019, according to the latest prognosis published by the Finance Ministry
Industrial output in Russia increased by 2.9% year-on-year in August 2019, inching up versus 2.8% y/y growth in July, and posting total 2.6% y/y growth in 8M19 overall.
Civil engineering works returned to normal levels after two disappointing years, while work on residential projects doubled from the levels seen in the years after the recession.
Expansion was driven by the construction sector that contributed 3.3pp to overall growth in the second quarter.
Slovakia ́s industrial production accelerated by 2.8% year-on-year in July, recovering from June ́s drop by 1.9%, the Slovak Statistics Office reported on September 10.
The current account deficit is one of the main threats to Romania’s macroeconomic sustainability with the other being the budget deficit.
Slovakia ́s inflation slowed in August, reaching 2.8% year-on-year, after a 2.9% growth in July, with core inflation amounting to 2.4% and net inflation to 1.6%, based on data reported by the Slovak Statistics Office on September 13.
The moody amongst the public since Ukrainian President Volodymyr Zelenskiy came to power has done an abrupt about face and deep pessimism has turned to growing optimism in the future of the country.
Inflation is now expected to hover at around 3% y/y until the end of the year before peaking at 3.7-3.8% y/y in the first quarter of 2020.