In recent economic updates, Russia reported a GDP growth of 4.2% in March, a decrease from 7.6% in the previous period. President Vladimir Putin highlighted that these figures surpassed the expectations set by the Central Bank and experts, with manufacturing sectors leading the growth. Meanwhile, inflation in Russia is showing signs of a gradual slowdown. In contrast, Sweden's GDP experienced a contraction of 1.1% year-over-year, underperforming against forecasts. Additionally, Spain's inflation rates were reported with the Consumer Price Index (CPI) at 3.3% and the Harmonized Index of Consumer Prices (HICP) at 3.4%, both slightly increasing from previous figures. The month-over-month CPI and HICP for Spain were recorded at 0.7% and 0.6% respectively.
EURO ZONE APRIL PRODUCER PRICE EXPECTATIONS 5.4 VS REVISED 5.5 IN MARCH - EU COMMISSION.
First Eurozone CPI out, and it's a downside surprise in Spain, albeit not hugely. German state CPIs out in 30 min. Look out for services, which should be down, and gas, which should be up.
SPANISH CPI MOM FLASH ACTUAL 0.7% (FORECAST 1%, PREVIOUS 0.80%) $MACRO
SPANISH HICP MOM FLASH ACTUAL 0.6% (FORECAST 0.7%, PREVIOUS 1.4%) $MACRO
SPANISH CPI YOY FLASH ACTUAL 3.3% (FORECAST 3.3%, PREVIOUS 3.2%) $MACRO
SPANISH HICP YOY FLASH ACTUAL 3.4% (FORECAST 3.4%, PREVIOUS 3.3%) $MACRO
SWEDISH GDP YOY ADVANCE ACTUAL -1.1% (FORECAST -0.7%, PREVIOUS -0.2%) $MACRO
⚡️🇷🇺 RUSSIAN ECONOMY FARING EVEN BETTER THAN PREDICTED - PUTIN: Russian leader praises latest stats exceeding Central Bank and experts' predictions (00:01), with manufacturing among sectors leading charge ahead. Inflation gradually slowing down, as well as inflation… https://t.co/TqMrqykYbG
🇷🇺 Russian Federation GDP Monthly (YoY) (Mar) $RUB Actual: 4.2% Previous: 7.6%