More 2Q24 GDP structure and monthly data on 3Q24 performance

CEE Insights , 2. Sep.
More 2Q24 GDP structure and monthly data on 3Q24 performance
More 2Q24 GDP structure and monthly data on 3Q24 performance
This week in CEE

Another busy week in the region, full of data releases. We will continue to see more on the 2Q24 GDP structure across the region (Serbia, Hungary, Slovakia and Romania). So far, Croatia, Czechia and Poland published the GDP breakdown, and private consumption was a key driver of growth. The other significant contribution to GDP growth came from the public sector and quite solid general government consumption. This week, we will also get to see data on the performance of the economies in 3Q24. The August PMIs will already be known on Monday and throughout the week sector performance (retail and industry) in July will be released in several CEE countries. Further, Czechia will publish wage growth in the second quarter, which is an important factor for the monetary policy outlook. Czechia, Slovakia and Slovenia will release Julys trade data. Finally, Poland will hold a rate-setting meeting, but we do not expect any change in the policy rate.

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In case you missed
CEE: Some of the CEE countries managed to avoid recession. Labor market untouched by slowdown HR: Technical recession, but brighter outlook. We revise our growth forecast up to 1.0% in 2023. RO: Slow road to recovery for manufacturing. 4Q22 GDP in line with expectations. January inflation surprised to downside SK: Change of price lists in services. Labour market still on a positive trajectory with solid economic growth at the end of the year. Fitch affirmed Slovakia’s A with negative outlook. SI: 4Q22 GDP growth decelerating to 0.2% y/y