Polish economy grew by 2.5 per cent y/y in Q3’16

(Ben_Kerckx, CC)

Ukraine: EBRD cuts its investments in 2016 by 60 per cent

Hungary: Industrial producer prices drop 1.2 per cent in October

Poland

In Q3’16 the Polish economy grew 2.5 per cent in real terms y/y. According to the data from the Central Statistical Office (GUS) the investment in Q3’16 fell 7.7 per cent y/y, while domestic demand grew by 2.9 per cent.

“The figures confirm a flash estimate from earlier this month. Economists had expected GDP growth of around 2.9 per cent. The last time the Polish economy grew less than 3 per cent was at the end of 2013,” the Polish Radio reminds and points out that the international rating agency Fitch earlier this week lowered Poland’s 2017 GDP growth forecast from 3.2 per cent to 3 per cent.

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Ukraine

The European Bank for Reconstruction and Development (EBRD) will invest EUR400m in Ukraine in 2016, EBRD President, Suma Chakrabarti has said at a meeting with Ukrainian Prime Minister Volodymyr Groysman. At the beginning of 2015 Francis Malige, the EBRD Managing Director for Eastern Europe and the Caucasus, has expressed his hope that some EUR1bn will be invested in the country in 2016.

The Ukrainian government’s press release states: „In 2016 the bank will invest EUR400m in Ukraine, and next year this amount could be increased. In particular, the EBRD will focus on reforms at ministries and departments to strengthen and develop their institutional capacity.”

Mr. Malige says “this is our investment capacity.” He claims the EBRD can invest about as much in Ukraine, but the success will depend on the coordinated work of all the branches of power and the availability of reforms.

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Hungary

Industrial producer prices in Hungary dropped by 1.2 per cent on average in October 2016, compared October 2016 – the Budapest Business Journal reports after the Hungary’s Central Statistical Office (KSH).

Domestic sales prices rose by 1.0 per cent in October 2016 but they were 6.2 per cent lower in electricity, gas, steam and air conditioning supply. At the same time industrial export sales prices were down by 1.3 per cent.

“Within industrial domestic sales prices, of the end-user groups of the producing branches of industry, prices – due to price developments of energy sources – were reduced by 2.2 per cent in energy and intermediate producing branches, according to the KSH, while prices rose by 0.9 per cent in capital goods producing and 1.2 per cent in consumer goods producing branches,” the BBJ informs.

In the period January-October 2016 domestic sales prices were down by 3.7 per cent and export sales prices by 1.2 per cent y/y.

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What’s up in indexes

BUX (of Budapest) dropped by 0.62 per cent – falling from 30003.00 index points Monday, November 28th to 29816.30 index points Tuesday, November 29th. From year-end it’s up 24.65 per cent.

BET (of Bucharest Stock Exchange) increased from 6810.43 index points Monday, November 28th to 6833.93 index points Tuesday, November 29th. So it’s up 0.56 per cent d/d. From year-end it dropped by 2.40 per cent.

PX (of Prague) decreased from 885.13 index points Monday, November 28th to 879.33 index points Tuesday, November 29th. So it dropped by 0.66 per cent d/d and by 8.05 per cent from year-end.

WIG20 (of Warsaw) increased from 1776.30 index points Monday, November 28th to 1780.04 index points Tuesday, November 29th. So it’s up 0.21 per cent d/d. From year-end it dropped by 4.26 per cent.

OMXT (of Tallinn) increased from 1034.36 index points Monday, November 28th to 1043.65 index points Tuesday, November 29th. So it’s up 0.90 per cent d/d. From year it’s up 16.09 per cent.

OMXR (of Riga) decreased from 748.86 index points Monday, November 28th to 745.74 index points Tuesday, November 29th. So it dropped by 0.42 per cent d/d. From year-end it’s up 25.47 per cent.

OMXV (of Vilnius) closed at 557.76 index points Tuesday, November 29th – it’s the same result as Monday’s. So it’s 0 per cent change d/d. From year-end it’s up 14.77 per cent.

SAX (of Bratislava) decreased from 311.81 index points Monday, November 28th to 305.00 index points Tuesday, November 29th. So it dropped by 2.18 per cent d/d. From year-end it’s up 4.33 per cent.

SOFIX (of Sofia) was up 0.65 per cent d/d and up 21.49 per cent from year-end. It increased from 556.33 index points Monday, November 28th to 559.94 index points Tuesday, November 29th.

UX (of Kyiv) was up 0.25 per cent d/d and up 16.50 per cent from year-end. It increased from  to 797.10 index points Monday, November 28th to 799.06 index points Tuesday, Monday 29th.

CROBEX (of Zagreb) was up 0.29 per cent – increasing from 1986.76 index points Monday, November 28th to 1992.47 index points Tuesday, November 29th. From year-end it’s up 17.92 per cent.

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