Europe

Greek Purchasing Managers Still Pessimistic About The Economy

Macro Watch: According to the recent Purchasing Manager Indicator (PMI), manufacturing in Greece shows minor signs of improvement. The PMI hit 41.7 points in January 2013 suggesting a slower rate of contraction in the manufacturing sector. The PMI increased by 1.7% year-on-year after a 1.4% decrease in December 2012. However, the increase in the PMI [...]

National Funds of Russia Gain Momentum in 2013

Russia Data Talk: By creating the Stabilization Fund in January 2004 to make better use of excess oil revenues, the Russian government made a significant step toward balancing the federal budget. Unpredictable oil and gas price fluctuations might either boost federal revenues during a boom or bring the economy to a halt in case of [...]

Latvia’s Rapid Economic Growth and Its Euro Area Accession

CEIC Chart@lert: The year 2012 did not mark the end of economic hardships across the European Union (EU) as anticipated by some analysts. The EU’s Gross Domestic Product (GDP) contracted during the last three consecutive quarters; in the fourth quarter of 2012, its GDP decreased in real terms by 0.6% year-on-year. Nevertheless, the three Baltic [...]

Increased Alcohol Excise Duties Hardly Affect Spirits Consumption in Russia

Russia Data Talk: For years now, the Russian government has faced the dilemma of fighting alcohol abuse or to bolster budget revenue through excise tax collection, in particular, a duty on alcohol. The production of strong alcohol (vodka and other similar liquor) and wine declined throughout the 1990s: vodka and liquor production decreased by almost [...]

Will The UK Leave The European Union?

Macro Watch Global: Recently the United Kingdom-European Union relationship has emerged as a hotly contested issue after the UK Prime Minister, David Cameron, promised a referendum in 2017 on the UK’s exit from the EU, as long as his Conservative Party remains in power after the next general election in 2015. The main opposition Labour [...]

Portugal’s Fiscal Prudence Yields Big Dividends On The Bond Markets

Macro Watch Global: Portugal returned to the debt markets in January with a sale of five-year bonds worth EUR2.5 billion. This was its first long-term bonds sale since February 2011 after the country requested a bailout from the European Union and the International Monetary Fund (IMF). Portugal’s successful auction saw the yield on its 10-year [...]

Bank Trading: The Main Turnover Driver on Georgia’s Small Stock Market

CEIC News@lert: The Georgian capital market is still in its infancy, with the Georgian Stock Exchange (GSE) being its only organized securities market. Securities of the National Bank of Georgia (NBG) and Liberty Bank have been particularly actively traded during the last year, as well as those of a few other commercial banks in the [...]

Romania: Bank Deposits Ease Up After Continuous Growth

Macro Watch Global: Romanian non-government deposits hit RON 195.3 billion (USD 55.3 billion) during November 2012, continuing a steady upward trend since 2011. The value of non-government deposits grew 7.74% year-on-year in November 2012 with deposits in foreign currency rising by 14.11%. Growth of non-government deposits, however, has cooled during recent months with a slight [...]

The Place of the Small Enterprise in Russia

Russia Data Talk: While large industrial corporations are often placed under the limelight due to their significant influence on overall industrial production, the nature of certain industries may merit a closer examination of small businesses. Defined by Russian law as “enterprises with an average annual number of employees not exceeding 100 and yearly pre-tax revenue [...]

Iceland – Capital Market Recovering

MACRO WATCH Global: Iceland’s capital market has been struggling to recover since its economic setback at the end of 2008. Although values of leading indicators have maintained low levels, now they are showing a steady upward trend. Chart provided by: CEIC Equity turnover has been continuously growing since July 2012. However, it was not enough [...]