Economic Snapshot for Central & Eastern Europe
June 8, 2022
Russia-Ukraine War Economic Impact - Analysis & Special Reports
See our latest analysis in the Resources section
GDP to shrink in 2022
The pace of GDP growth will slow this year, restrained by a tougher base of comparison, the negative spillover effects from the war in Ukraine, and protracted global supply disruptions. That said, expansionary fiscal stances, EU fund inflows and tight labor markets should sustain activity. The prolongation of the war and high commodity prices pose downside risks.
Inflation to increase in 2022
Regional inflation rose to 12.7% in April from 10.9% in March. All regional economies experienced higher inflation rates, amid worsening supply bottlenecks and soaring food and energy prices. This year, inflation will remain elevated, stoked by supply constraints, high commodity prices and second-round effects. The potential protraction of the war in Ukraine adds upside risks.
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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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Croatia: Industrial output growth accelerates in May
July 1, 2022
Industrial production increased 3.0% year-on-year in working-day adjusted terms in May (April: +1.6% yoy).
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Poland: Manufacturing PMI moved further into contractionary terrain in June
July 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 44.4 in June, down from 48.5 in May.
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Czech Republic: Manufacturing PMI falls into contractionary terrain in June
July 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) dropped from May's 52.3 to 49.0 in June, the lowest value since August 2020.
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Hungary: MNB hikes rates again in June
June 30, 2022
At its 28 June meeting, the Monetary Council of the Hungarian National Bank (MNB) decided to raise its base rate to 7.75% from 5.90%, marking the 13th consecutive increase.
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Hungary: Economic sentiment falls in June
June 27, 2022
The GKI economic sentiment index, a composite indicator, fell to minus 7.5 in June from minus 2.6 in May.
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