Economic gap between Slovakia and western Europe remains wide

NBS headquarters, Bratislava, Slovakia (Miroslav Petrasko, CC BY-NC-ND)

Bulgaria’s expenditures for R&D activities decreased

Czech industry with the biggest growth since 2011

Slovakia

Slovakia’s central bank NBS says that the country is still lagging behind in economic convergence towards the more advanced Europe. According to The Slovak Spectator NBS expects that the national economy could begin growing more rapidly, but not before 2018, due to the launching of production at carmaker Jaguar Land Rover’s plant in Nitra, positive developments on the labor market and growing household consumption.

The relative performance of the country’s economy achieved 77 per cent of the EU average in the last year, which meant the fourth year of stagnation in approaching the economically more advanced states of Europe. The relative productivity of Slovakia even fell last year; by one percentage point to 82 percent of the EU average.

NBS points out that the Slovak economy has begun to lag behind its partners from the Visegrad (V4) Group as well. This was evident in the first half of this year, when the economies of Hungary, the Czech Republic, and Poland grew faster than the Slovak one.

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Bulgaria

Novinite.com reports that the expenditures of Bulgaria on R&D activities decreased. In 2016 it dropped by 13.7 per cent compared with 2015. The total spending on R&D projects was BGN734m (EUR375m).

As reported also the R&D intensity decreased. The measure shows R&D expenditure as a percentage of GDP – and it dropped from 0.96 per cent in 2015 to 0.78 per cent in 2016.

“The highest share of R&D projects belonged to technical sciences – 57.2 per cent or BGN419.5m, followed by medical and health sciences with a share of 19.1 per cent (BGN140.3m) and the natural sciences – 13.0 per cent (BGN95.6m)”.

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Czech Republic

Radio Praha reports on the manufacturing sector results which are the best since 2011. The radio quotes Sian Jones from IHS Markit: “October’s survey data showed the biggest improvement in operating conditions in production since April 2011. The increase in new orders was also the fastest since May 2014”.

As reported, the level of production among Czech manufacturers increased in October 2017 at the fastest rate in four months. Also the Purchasing Managers’ Index (PMI) increases. It increased to 58.5 points in October 2017 from September’s 56.6 points. It is worth noticing, a score above 50 points indicates an overall improvement of the sector. “Thanks to industry, the Czech economy will add 4.4 per cent growth this year, and its dynamics will reach 3.6 per cent next year,” Viktor Zeisel, Komerční banka’s economist comments.

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What’s up in indexes

BET (of Bucharest) decreased from 7,842.76 index points Tuesday, October 31st to 7,790.33 index points Wednesday, November 1st. It’s down 0.80 per cent d/d and up 13.84 per cent y/y.

BUX (of Budapest) was closed Wednesday, November 1st. It decreased from 39,881.22 index points Monday, October 30th to 39,611.64 index points Tuesday, October 31st. It’s down 0.68 per cent d/d and up 34.28 per cent y/y.

CROBEX (of Zagreb) was closed Wednesday, November 1st. It decreased from 1,881.01 index points Monday, October 30th to 1,874.49 index points Tuesday, October 31st. It’s down 0.35 per cent and down 4.31 per cent y/y.

OMXR (of Riga) increased from 1,021.68 index points Tuesday, October 31st to 1,024.89 index points Wednesday, November 1st. It’s up 0.31 per cent d/d and up 43.66 per cent y/y.

OMXT (of Tallinn) increased from 1,216.27 index points Tuesday, October 31st to 1,219.46 index points Wednesday, November 1st. It’s up 0.26 per cent d/d and up 18.44 per cent y/y.

OMXV (of Vilnius) was closed Wednesday, November 1st. It decreased from 661.57 index points Monday, October 30th to 660.67 index points Tuesday, October 31st. It’s down 0.14 per cent d/d and up 18.92 per cent y/y.

PX (of Prague) increased from 1,065.61 index points Tuesday, October 31st to 1,067.71 index points Wednesday, November 1st. It’s up 0.20 per cent d/d and up 17.49 per cent y/y.

SAX (of Bratislava) was closed Wednesday, November 1st. It increased from 318.01 index points Monday, October 30th to 320.51 index points Tuesday, October 31st. It’s up 0.79 per cent d/d and up 0.92 per cent y/y.

SOFIX (of Sofia) decreased from 671.41 index points Tuesday, October 31st to 670.90 index points Wednesday, November 1st. It’s down 0.08 per cent d/d and up 24.93 per cent y/y.

UX (of Kyiv) decreased from 1,275.51 index points Tuesday, October 31st to 1,265.39 index points Wednesday, November 1st. It’s down 0.79 per cent d/d and up 49.99 per cent y/y.

WIG20 (of Warsaw) was closed Wednesday, November 1st. It increased from 2,517.03 index points Monday, October 30th to 2,524.90 index points Tuesday, October 31st. It’s up 0.31 per cent d/d and up 39.14 per cent y/y.

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