Economic Snapshot for Central & Eastern Europe
January 12, 2021
GDP forecast to expand robustly in 2021
This year, regional GDP is set to expand robustly as the effects of the pandemic fade and restrictions are gradually relaxed. Domestic demand should be bolstered by inflows of EU funding and supportive fiscal policies, while stronger foreign demand is seen boosting exports. Downside risks persist, however, due to lingering pandemic-related uncertainty.
Inflation to continue its upward trend
Regional inflation continued its upward trend in May, rising to 3.8% (April: 3.5%), largely reflecting higher price pressures in regional heavyweights Hungary and Poland. Looking ahead, although price pressures should ease from their current levels, inflation is set to average higher than last year on stronger activity and higher oil prices relative to 2020.
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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: Economy rebounds amid low base effect and easing restrictions in Q2
July 30, 2021
The economy expanded 0.6% on a seasonally-adjusted year-on-year basis in the second quarter, amid an acceleration in the vaccination campaign and easing restrictions.
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Croatia: Industrial production growth cools in June
July 29, 2021
Industrial production growth moderated to 8.3% in annual terms in June, following May’s 15.8% rise.
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Hungary: MNB delivers second consecutive rate hike in July
July 28, 2021
At its 27 July meeting, the Monetary Council of the Hungarian National Bank (MNB) decided to raise its base rate to 1.20% from 0.90%, marking the second consecutive increase.
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Hungary: Economic sentiment improves in July amid higher business confidence
July 27, 2021
The GKI economic sentiment index, a composite indicator, edged up to minus 1.1 in July from minus 2.2 in June, the best result since December 20219.
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Czech Republic: Economic sentiment drops in July
July 26, 2021
The economic sentiment indicator, published by the Czech Statistical Office (CSO), fell to 99.7 in July from 104.0 in June, which had marked the best print since February 2019. The business confidence index dropped in July, coming in at 99.3, from June’s 103.7 reading.
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