Trust in TV news is declining among Russians, as social media news gains popularity. At the same time, Russian support for the war in Ukraine appears to be slipping, as does the belief that Russia is winning a global power struggle.
The new government's pledged to improve the economic and political environment has yielded results despite the war in Ukraine and soaring energy prices.
Romania’s GDP increased by a real 6.5% y/y in the first quarter of the year, surprising analysts who had expected more damage from the war in Ukraine.
Full-year economic growth forecast at around 5% despite Ukraine-driven slowdown.
The impact of sanctions on Russia, higher financing costs and lower purchasing power amid rising inflation are likely to dent growth in the coming quarters.
With double-digit headline inflation and accelerating core inflation readings, the National Bank of Poland is expected to keep on tightening monetary policy in the months to come.
The deterioration in output was visible in March, the first month after the outbreak of the war in Ukraine, at -1.6% y/y.
Headline industrial output growth slows to 3.6% y/y, down from 4.8% in the previous month.
Annual inflation up 1.4pp from the March reading, and is 0.1pp higher than the flash estimate.
Inflation hits 11.8%, up from the 10.4% recorded in March.
Headline inflation in Hungary accelerated to 9.5% y/y in April, from 8.5%, while core inflation edged up from 9.1% to 10.3%.
In yearly terms, inflation accelerated to 14.2% in April, up from 12.7% in March, driven mainly by price increases in housing, fuel and food.
Among the sectors, energy (down 29.7% y/y), car manufacturing (down 13.9% y/y) and petroleum-based manufacturing (down 25.6% y/y) fared worst.
The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.
Unemployment rate fell by 0.1 percentage point month-on-month and by 0.8pp year-on-year.
Across the region, the average publicly guaranteed debt to GDP ratio fell from 60.8% of GDP in 2020 to 56.5% in 2021, a World Bank report shows.
The war in Ukraine sends shockwaves across the region and the World Bank warns of "daunting" downside risks to the current outlook.
Price pressures remained elevated, supply chain disruption continued and the war in Ukraine added to difficulties. Exports softened for first time in three months.
The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) posted 48.2 in April, up from 44.1 in March, to signal the third successive deterioration in the health of the Russian manufacturing sector.
New orders decreased for fifth successive month due to price hikes and lack of customers. Rate of decline eased significantly from previous month, however, as some firms able to secure new business.