The week ahead in Eurasia..
As we move into the new year, there are few economic announcements in Eurasia. Below are 5 indicators to watch for the week ahead.
On Monday 31 December
Armenia Unemployment rate – Forecast is for 15.8% vs 15.7 previously
Russia M2 Money Supply – Forecast is for 11.5%
On Wednesday 2 January 2019
Kyrgystan Industrial Production(Nov) – Forecast is for 26.3 vs 8% previously
Kyrgyzstan industrial production increased 26.3 % year-on-year in October 2018 after a 32.5 % rise in September. Output rose at a slower pace for manufacturing (33.1 % from 50.2 % in September) This was led by production of basic metals & finished metal products, except machinery & equipment (52.5 % from 88.4 percent); rubber & plastic products (-8.6 % from 7.9 %) and vehicles (-29.2 % from 48.4 %).
Kyrgyzstan industrial production has averaged 4.83 percent from 1999 until 2018, reaching its all-time high of 105.80% in February of 2010 and a record low of -44.10 percent in December of 2011.
Kazakhstan Inflation rate(Dec) – Forecast is for 5.3% vs 5.4% previously
Consumer price inflation in Kazakhstan was unchanged at 5.3 percent year-on-year in November 2018; this was the lowest level since September 2015. Upward pressure came from: food & non-alcoholic beverages (4.7%); housing, water, electricity, gas & other fuels (3.5 %); clothing & footwear (7.7 %); transport (4.7 percent); household equipment (6.5 %); recreation and culture (6.5 %); and alcoholic beverages & tobacco (10.5 %). Inflation Rate in Kazakhstan averaged 48.71 percent from 1992 until 2018, reaching an all-time high of 2960.80 percent in December of 1992 and a record low of 1.90 percent in December of 1998.
On Thursday 3 January 2019
Kazakhstan PPI YoY (Dec) – Forecast is for 24% vs 24% previously
Producer prices in Kazakhstan increased 24 % year-on-year in November of 2018, accelerating from a 22.9 % rise in the previous month. It was the highest producer inflation since August, as cost went up at a faster pace for both mining & quarrying (37.4 % vs 36.2 % in October).
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Danny Deegan is the Editor and proprietor of eurasianmarket.com. Born in the UK, currently working in financial services with an emphasis on equity investments and forex trading.