Data
Romania’s economy eases to slowest growth in nearly six years
GDP growth slowed to 2.4% y/y in Q1, as domestic demand — the main growth driver — lost momentum.
Turkey fortifies imports wall a little more
38 communiques in Official Gazette change tariff rates on 150 products. Desired fruits of import compression not visible in trade data yet.
No room for complacency amid new corona outbreaks in emerging Europe
Surge in new COVID-19 cases in Caucasus, Moldova and Poland, while fresh outbreaks in Balkans show virus not yet under control.
Record contraction of Czech industry in April driven by 80% fall in car production
Industrial production flopped by 33.7% y/y as just 14,500 cars were produced during the month compared to a monthly average of 120,000.
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Turkey’s public finances no longer “pillar of strength” they once were says Capital
Debt-to-GDP ratio will continue to rise and, as investors demand a higher premium to hold Turkish sovereign debt, local currency bond yields will probably drift higher over coming years, analysis concludes.
Lithuanian CPI growth eases further to just 0.3% y/y in May
The slowdown came mainly on the back of prices falling in the housing and transport sectors, a result of the falling oil prices because of the coronavirus pandemic that depressed the global oil market.