Economic Snapshot for Central & Eastern Europe
January 11, 2023
Economic Growth
The economy should shift to a lower gear this year. Still-elevated inflation, tighter financing conditions and lower savings will weigh on domestic demand. Moreover, a less supportive global economic environment will restrain industrial production and exports. Possible energy price swings and geopolitical uncertainty stemming from the war in Ukraine cloud the outlook.
Inflation Outlook
Regional inflation rose to 17.5% in November from 17.1% in October. Croatia, the Czech Republic, Hungary, Latvia and Romania all recorded higher inflation rates, which more than offset softer price pressures in Bulgaria, Estonia, Lithuania and Poland. This year, inflation should ease, although pass-through effects and sustained wage growth will keep it high.
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5 years of Central & Eastern Europe economic forecasts for more than 30 economic indicators.
Central & Eastern Europe Economic News
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Czech Republic: Manufacturing PMI rises in January
February 1, 2023
The S&P Global Manufacturing Purchasing Managers' Index (PMI) rose from 42.6 in December to 44.6 in January.
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Poland: Manufacturing PMI rises in January
February 1, 2023
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 47.5 in January, up from 45.6 in December.
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Hungary: Economic sentiment ticks up in January
January 31, 2023
The GKI economic sentiment index, a composite indicator, rose to minus 20.5 in January from minus 20.8 in December.
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Czech Republic: Economy expands at softer pace in Q4
January 31, 2023
The economy expanded 0.4% in seasonally adjusted year-on-year terms in Q4, following Q3’s 1.5% increase.
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Croatia: Industrial output records largest drop in over two years in December
January 30, 2023
Industrial output dropped 2.2% year on year in working-day adjusted terms in December, which was a deterioration from November's 2.0% decrease.
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