Page 56 - BNE_magazine_03_2020 wellness

56 I New Europe in Numbers bne March 2020
Poland Industrial Production (y/y) vs PMI manufacturing
Polish PMI remains in contraction zone for 15th month straight in January
Poland’s PMI declined 0.6 points to 47.4 in January, the lowest start to the year since 2009, IHS Markit reported on February 3. The indicator has now remained below the 50-point line separating contraction from growth for 15 straight months, the longest such series since 2012-2013.
Belarus government forecasts 2% y/y GDP drop in January amid snowballing energy crisis
The Belarusian government forecasts a 2% year-on-year GDP drop in January as the post-Soviet country's unreformed economy has been hit by the energy dispute with Russia.
On February 14, the nation's PM Sergei Rumas attributed the expected result to the cut of oil supplies from Russia to Belarus, as well as
a crisis in the nation's potash industry, MInsk-based online outlet TUT.by reported the same day.
The Belarusian economy grew by 1.2% y/y in 2019, according to national statistics agency Belstat. The Belarusian government forecasted earlier a 4% y/y growth last year.
Turkish lira deposit rates below official inflation
Average interest rates on Turkish lira (TRY) deposits at local banks fell to 9.60% as of January 17, the lowest level recorded since January 2017, according to data from the central bank.
The figure stood at 23% in June 2019 but it has steadily fallen since then. Official CPI inflation was posted at 11.84% in December.
Real disposable income in Russia up by 0.8% in 2019, more hoped for 2020
Real disposable incomes in Russia increased by 0.8% in 2019, the growth accelerating from 0.1% seen in 2018 and beating the expectations of 0.1% of the Ministry of Economic Development, the latest data released by RosStat statistics agency shows.
As reported by bne IntelliNews, recent social spending measures announced by President Vladimir Putin, the new government wired for execution of the National Projects, and the appointment of the pro-demand ex-EconMin Maxim Oreshkin as Presidential economic advisor are all expected to support demand in 2020.
The 2019 real disposable income growth was already the fastest since 2013, although in real terms the incomes since lag behind the pre-Crimea levels.
Belarus GDP % y/y
Turkish Resident Real Persons' FX Deposits at Local Lenders
Russia income vs retail sales
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