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Russia’s manufacturing PMI remains at robust 54.3 in April
11 hours ago
Russia's economic growth accelerated in January 2024, expanding by 4.6% y/y, up from a 4.4% increase in December, according to the Russian Ministry of Economic Development. (chart)
"The GDP in January 2024 exceeded last year's level by 4.6% year-on-year after a 4.4% increase in December. When compared to the same month in 2022, the GDP saw a rise of 1.9%, down slightly from 2.3% in December 2023 compared to 2021," the ministry said.
Preliminary estimates by Rosstat suggest that Russia's GDP growth reached 3.6% at the end of 2023. The final quarter of 2023 witnessed a robust 5.1% GDP growth, contributing to the overall positive momentum, with December alone seeing a 4.6% increase.
Looking forward, the Ministry of Economic Development forecasts a 2.3% growth in the Russian GDP for the entirety of 2024. Meanwhile, the Bank of Russia has a more conservative outlook, projecting a growth range of 0.5-1.5%.
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Czech GDP grew by 0.4% y/y in the Q1 2024
The estimate released by the Czech Statistical Office follows a GDP drop of 0.8% in the third quarter of 2023 and a growth of 0.4% in Q4. Following the revision released by CZSO in late March, the Czech economy declined by 0.2% in 2023 overall.
Polish CPI picks up growth to 2.4% y/y in April, flash estimate shows
Polish CPI grew 2.4% year on year in April (chart), just below the consensus line of 2.5% y/y and 0.4pp above the March reading, a flash estimate from Poland’s statistical office GUS showed on April 30.
Preliminary Q1 GDP data shows Hungarian economy posts modest rebound
GDP grew 1.1% year on year in Q1 and by 1.7% when adjusted for calendar effects.
Russia’s Economic Ministry issues bleak economic stress test scenario
Russia's Finance Ministry ran an extreme stress test on the economy for this year that assumes zero growth, a weakening ruble and falling oil and gas revenues in the worst-case scenario.
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