Page 50 - bne_March2019_20190306 magazine

50 I New Europe in Numbers bne March 2019
Russia GDP (y/y)
More controversy as Rosstat upgrades Russian GDP growth to a six-year high
More questions were raised over the veracity of the Russian State Statisti- cal Service’s (Rosstat's) results after it upgraded its estimates of growth in the construction sector that led to a revision of 2018 growth from 1.6% to 2.3% — the best result in six years, the service said on February 4.
The changes were part of the detailed reporting on the make-up of growth in the previous year that Rosstat releases every year in January. The agency always releases preliminary results around the end of the year but this year the revisions were a lot bigger than usual.
Czech unemployment increased by 3.3% in January 2019, still the lowest in past 22 years
The unemployment rate in the Czech Republic swelled to 3.3% in January from 3.1% in December, due to typical seasonality during winter months, according to the Czech Labour Office data released on February 8. “The situation on the labour market has been usual in the past month. Compared to previous years, however, it is more favourable,” the Office said.
According to Labour Office General Manager Katerina Sadilkova, decline in seasonal work has been recorded especially in construction and agriculture.
Slovakia to be among fastest-growing OECD countries in 2019
Slovakia's economy should expand by 4.3% in 2019 and by 3.6% in 2020, according to the latest economic outlook released by the Organisation for Economic Cooperation and Development (OECD on February 5. The OECD is thus more optimistic about the development of the Slovak economy than the Slovak finance ministry.
“Thanks to sustainable economic growth, living conditions in Slovakia are approaching those of higher-income countries. Fiscal results are very good as well, debt levels are well below the OECD average and are still falling thanks to good fiscal policy,” said OECD secretary-general Jose Angel Gurria after his meeting with Pellegrini on February 5, quoted by the Slovak News Agency.
Sentiment on emerging markets and Russia turning as EM funds have second biggest inflows ever
After a terrible year in 2018 sentiment towards emerging markets (EMs), and Russia in particular, seems to be turning more positive after EM bonds funds had their second best week on record in terms of inflows and equities also attracted new money, Slava Smolyaninov, executive director, chief strategist of BCS Global Markets, reports.
“EM assets still got a lot of love last week as it proved second best on record for EM bond funds. Inflows into stocks stayed at a steady healthy level with no signs of overheating – unlike those of bonds,” Smolyaninov said in a note to investors.
Czech ILO unemployment index
The labour market is tightening
Car production will expand further
1.Percentage of manufacturing firms pointing to labour shortages as a factor limiting production.
2.Estimates for 2018 include the launch of new production lines that have started in 2018.
Source: Eurostat, industry database; OECD Trade database; OECD Economic Outlook 104 database;
Slovak Investment and Trade Developmnet Agency (SARIO); and Zvaz automobiloveho priemyslu Slovenskej republiky.
RTS vs Brent oil price, difference x20 price of oil indicator
www.bne.eu