First data on GDP growth in the third quarter

CEE Insights , 28. Okt.
First data on GDP growth in the third quarter
First data on GDP growth in the third quarter
This week in CEE

Hungary and Czechia will publish flash estimates of GDP growth in the third quarter. In Hungary, the likelihood that the economy contracted on a q/q basis is quite substantial, while in Czechia, we believe that private consumption should drive economic expansion in 3Q. For the region, it will be important to see how the Eurozone developed in the third quarter as well (due Wednesday). Further, flash inflation estimates will be published in Croatia, Poland, and Slovenia, as well as in Slovakia within the HICP flash inflation release for the Eurozone. Other than that, we will see the performance of the retail and industry sectors in September in Croatia, Serbia, and Slovenia. Finally, on Friday, manufacturing PMIs for October will be released for Czechia, Hungary, and Romania. Last week's flash Eurozone PMIs showed a slight improvement but remained in contraction territory.

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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