Page 54 - bne_Magazine_June_2017

54 I New Europe in Numbers bne June 2017
Baltic inflation CPI
Baltic inflation rising
Turkey unemployment
Latvia's consumer price index (CPI) grew 3.4% y/y in April, data released by
the Central Statistical Bureau (CSB) showed. The growth trend is in line with forecasts for a decisive pick up of inflation this year after the index barely moved in 2016. Estonia's consumer price index (CPI) also grew, by 3.2% in annual terms in April, data from Statistics Estonia showed. The rebound in April was driven by rising prices in the food and transport sectors.
The Lithuanian consumer price index (CPI) grew 3.5% y/y in April, accelerating from the 3.1% recorded the previous month, Statistics Lithuania announced. The result extends the strong surge in inflation that began late last year across Central & Eastern Europe, which is largely driven by stabilisation of oil prices and the low base from 2016. However, while the CPI gains have show signs of fading elsewhere in the region, price rises appear to be maintaining momentum in the Baltics.
Turkish unemployment rate registers small decline to 12.6% in February
Turkey's unemployment rate declined from 13% in January to 12.6% in February, the country's statistics office, TUIK, reported. January’s unemployment figure was the highest since February 2010 when the unemployment rate stood at 13.5%. Despite the slight recovery seen over the next month, the February 2017 figure still remained far higher than the 10.9% recorded for February 2016.
The Turkish unemployment rate has been on an upward trend for the past year. Recent data suggests that the economic growth performance is still weak and failing to produce enough jobs.
Estonian industrial production growth hits six-year high
Estonian industrial production expanded 14.8% y/y in March, working-day ad- justed data from Statistics Estonia showed.
The reading shows the industrial sector improving its performance after an already strong growth of 9% y/y in February. The March expansion – the fastest since 2011 – extends a growth trend that began in September. The trend helps reinforce forecasts that the Estonian economy is due to pick up speed in 2017.
Slovak industry booms in March
Slovak industrial production surged in March, adding 13.9% y/y to output after working day adjustments, the statistics office reported. Raw data, which makes no changes to account for the two extra days in March this year, show activity gained 14.9%.
The boom will be welcomed in Bratislava. Industrial production growth of 7.6% in January had signalled a welcome acceleration in activity as the year kicked off, following an erratic second half to 2016. However, February saw momentum fizzle out, as growth fell to just 2.6%.
..Estonia industrial production y/y
Slovakia industrial production y/y
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