Page 5 - bne_newspaper_April_5_2019

The Regions This Week
April 5, 2019 www.intellinews.com I Page 5
Central Europe
The Czech economy grew by 2.9% in 2018, down from 4.5% growth in 2017. In 4Q18 the economy grew by 2.6% year-on-year and by 0.8% quarter- on-quarter, according to data by the Czech Statistical Office published on April 2. According to the analysts, Czech economic growth will slow this year too, as people are aware of the rising risks and are starting to save.
The Czech IHS Manufacturing Purchasing Managers Index (PMI) decreased to its
lowest level since December 2012, to 47.3 in March from 48.6 in February, signalling a solid deterioration in operation conditions of the Czech manufacturing sector, according to IHS Markit.
Hungary’s seasonally adjusted Purchasing Managersʼ Index (PMI) fell from 55.5 in February to 52.4 in March, its lowest level since mid-2016 as European manufacturing activity disappointed last month, which seems to have fed through to the local manufacturing.
Both Hungary’s gross and net wages grew by 10.6% y/y in January to HUF343,450 (€1,069)
and HUF228,400 respectively, according to figures released by the Central Statistics Office. Based on a 2.7% annualised inflation, real wages were up 7.7% in the first month of the year.
The volume of new housing loans in the Czech Republic in February decreased by 26% y/y to the lowest figure since January 2016, due to Czech National Bank recommendations tightening the market put out since September 2018 and strong frontloading in 2H18, the central bank said.
Poland will offer PLN15bn-PLN25bn (€3.5bn- €5.8bn) in three or four auctions of Treasury bonds in the second quarter, the treasury ministry announced. There will also be two or three switch auctions in which the ministry will swap new debt for bonds maturing in 2019 and 2020.
The European Bank for Reconstruction and Development (EBRD) is selling its stake in Mobiasbanca - Groupe Societe Generale, the third largest financial institution in Moldova, in a direct transaction. Separately, Societe Generale entered an agreement to sell Mobiasbanca to the Hungarian banking group OTP earlier this year.
The first terminal of the Chinese mobile and online payment platform Alipay was opened in Hungary on March 29, the National Bank (MNB) said. Hungary is striving to strengthen its position as a distribution base in Central Europe for non- EU countries such as China due to its favourable geographical location.