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Even though June wasn't affected by the lockdown, Hungarian retail sales show only a gradual rebound. The historic collapse in 2Q points to a…
The July releases of CEE manufacturing PMIs (ex Russia) have largely echoed the flash release of the Eurozone number – namely figures pointing to…
Wage growth in Hungary has shown no sign of any crisis, yet. Only the non-profit sector has suffered a slowdown, while both public and private sector…
Industry data releases next week are unlikely to show a pronounced change from last month as the recovery continues at a steady pace
After six months of 2020 the budget deficit reached a new record high at 4.17% of GDP. We still believe that the official forecast for the budget deficit…
The official unemployment rate is rising, but still contains a lot of uncertainty due to methodological issues. By the end of the year, we see the rate at…
Data next week will reveal the extent of the decline in Czech GDP during the second quarter. Also watch out for inflation data in Poland and unemployment…
The 25bp cut today is in line with our forecast, but is disappointing to the market. We see another 25bp cut as likely this year, though not necessarily…
EU recovery fund and the EU budget is positive for the CEE region with the EU transfers into CEE in the 2021-27 period rising vs the prior budget. As the…
The euro’s reaction to an agreement on the EU recovery fund and the EU budget has been quite muted, largely because optimism about a deal had…
