In January-April 2020 Belarus industrial output declined 3.8% year-on-year as the double whammy of the oil price collapse and the coronavirus stop-shock hit home.
Industrial production in Ukraine in April 2020 fell by 16.2% year on year, compared with the March drop of 7.7%, February’s fall of 1.5% and January’s contraction of 5.1%, the State Statistics Service said on May 23.
A steep reduction in shops’ turnover in April is hardly a surprise, given the fourth month was the first – and only thus far – full month of lockdown, imposed by the authorities to limit the spread of the pandemic.
The economic situation of Czech companies is deteriorating and most hope for an extension of the government's Antivirus support programme, a survey by the Confederation of Industry and Transport shows.
A contraction had been expected in April, but at 24.6% y/y the magnitude of the fall surprised the market.
The reading sees the PPI deflation deepen its fall after the index slid 0.5% y/y in March.
Estonia's producer price index retreated 4.4% y/y in April, after falling 3.5% y/y in March.
Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.
Amazingly In April, Russia maintained double surpluses in its external accounts with a trade surplus of $3.5bn ($35.6bn in 4M20) and a current account surplus of $1.8bn $23.5bn 4M20) despite the catastrophic collapse in oil prices.
Performance ranges from a contraction of 5.4% q/q in Slovakia to growth of 0.3% q/q in Bulgaria and Romania.
The construction works volume index increased by 32.6% y/y in Q1 and by nearly 30% y/y in March alone.
Multinationals halted their equity investments and asked their local subsidiaries to pay back their loans, central bank data showed.
Plunge in passenger numbers expected after coronavirus lockdown and travel restrictions imposed during the month, bringing a halt to tourist travel.
Despite onset of pandemic and lockdowns market was expecting some growth.
More migrants risked the Balkan route in January-March, but almost no illegal border crossings during coronavirus lockdowns in April, says Frontex.
Plunge in producer prices driven by crashing oil prices, an effect of the global oil market depression caused by the pandemic.
Sales of passenger cars and light commercial vehicles (LCVs) in Russia in April 2020 are the latest victims of the coronavirus (COVID-19) crisis with sales crashing by 72% year-on-year in April, according to the report by the AEB
The slowdown came mainly on the back of prices falling in the housing and transport sectors, an effect of the falling oil prices because of the coronavirus pandemic that depressed the global oil market.
Croatia’s large tourism sector is expected to suffer further due to the pandemic, with government estimates of the decline in revenues this year ranging from 60% to 90%.
Inflation in Ukraine slowed to 2.1% in April year on year from 2.3% in March, according to the State Statistics Service. Month-on-month inflation remained flat at 0.8% compared to March.