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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Poland: Retail sales growth moderates but remains strong in May
June 23, 2022
Retail sales grew 23.6% compared to the same month a year earlier in May, which was below April's 33.4% surge.
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Poland: Industrial output growth strengthens in May
June 23, 2022
Industrial production expanded 15.0% year-on-year in May (April: +12.4% yoy).
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Czech Republic: The Czech National Bank continues its tightening cycle in June
June 23, 2022
At its 22 June meeting, the Board of the Czech National Bank (CNB) decided to raise the two-week repo rate by 125 basis points, from 5.75% to 7.00%, marking the ninth consecutive hike and bringing the key rate to its highest level since 1999.
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Croatia: Inflation increases in May
June 16, 2022
Consumer prices increased 1.40% over the previous month in May, slowing down from the 2.70% rise logged in April.
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Hungary: Industrial output growth improves in April
June 15, 2022
According to a second estimate by the Statistical Institute, industrial output grew 4.7% year on year in April (March: +4.2% yoy).
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