Hungary has become a centre for the auto manufacturing sector, and the surge in output was the result of the low base as the summer shutdown of carmakers led to a sharp decline in output in July 2018.
Industrial growth has remained feeble since the beginning of the year, but broken down by segment the figures indicate a shift towards higher value production.
Ukraine sees deflation in August. Annual inflation stood at 8.8% year-on-year in August following 9.1% y/y in July.
Food prices (up 8.4% y/y in August) have been and will remain until the end of the year one of the key inflationary drivers in Moldova.
The growth accelerated due to the higher output in the key manufacturing industry, despite the fall in the mining and quarrying and electricity, gas, steam and air conditioning sector.
The July figures might overstate the diverging dynamics of exports and imports, but trend data confirm that exports are slowing at a significantly steeper rate than imports.
The slightly slower price growth appears in line with analysts’ prediction for a gradual easing of inflation towards the end of the year.
The foreign exchange reserves of Belarus increased by $263mn, or 3% month-on-month, to $8.89bn in August following a 5.1% m/m growth in July, according to the National Bank of Belarus (NBB).
Inflation has now persisted in y/y terms for 35 months straight, and all segments recorded annual price growth in August.
CPI expansion was driven by fast-growing prices in the food and non-alcoholic beverages segment, which contributed 40% of the overall increase.
The volume of construction works surged by 31% y/y and the sector generated 21% more value added in the second quarter.
Russia's car and LCV sales declined 1.3% y/y to 145,545 units in August, so 8mo19 sales fell 2.3% to 1.1mn, according to the latest data by the Association of European Businesses (AEB).
Preliminary statistics office figure in line with forecasts from international financial institutions that have projected Bulgaria’s GDP growth above 3% in 2019.
Bond markets are always slow in the summer, but with Russia and Turkey, two of the biggest markets in the region, in turmoil over the summer, there were almost no bond issues at all this year.
Croatia recorded the sharpest month-on-month decline in retail trade turnover across the EU in July compared to the previous month, a new report from Eurostat said.
The board of the Central Bank of Russia (CBR) is expected to cut the key interest rate for the third time in a row at its upcoming policy meeting on September 6.
Lack of improvement externally coupled with declining confidence in domestic economy mean economic growth is expected to remain subdued this year, the Bank of Slovenia said.
The indicator’s growth attests to the easing of the overall pace at which business conditions deteriorated in August, reflected in slower declines in output, new orders and employment, IHS Markit said.
Upturn in the services PMI lifted Russia's composite index result, but while the positive results are welcome, the poor performance of manufacturing highlights the weakness of Russia’s growth this year.