11:19AM Slovakia's growth slows to 7.6% in second quarter by Polya Lesova
NEW YORK (MarketWatch) -- Slovakia's economic growth slowed to 7.6% year-on-year in the second quarter, down from 8.7% in the first quarter, the country's statistical office reported Thursday. Second-quarter GDP growth was slightly higher than market expectations of 7.4%. The Czech Republic and Hungary, Slovakia's neighbors in Central Europe, also reported GDP growth data for the second quarter on Thursday.
10:57AM Hungary's growth rises more than expected in second quarter by Polya Lesova
NEW YORK (MarketWatch) -- Economic growth in Hungary rose 2.2% year-on-year in the second quarter, exceeding market expectations of a 1.9% increase, the Hungarian statistical office reported Thursday. Hungary's economy grew 0.6% quarter-on-quarter. "The comparatively high growth in the second quarter was most likely driven by a relatively strong contribution from net exports," said Lars Christensen, chief analyst at Denmark's Danske Bank. "However, since the euro area has recently been slowing significantly and Hungarian industrial activity has been weakening, net exports should not be expected to boost growth in the third and fourth quarter."
10:56AM Global air traffic in June grew 3% vs 5.1% last year: IATA (AAI, ALK, AMR, CAL, DAL, JBLU, LCC, LUV, MESA, NWA, SKYW, UAUA, GOL, XAL, TAM, RYAAY) by Christopher Hinton
NEW YORK (MarketWatch) -- In a sign airline passengers are feeling the pinch of a weaker global economy and higher fuel prices, worldwide traffic growth slowed to 3% in June compared to 4.5% for the first five months of 2008, according to data released Thursday by the International Air Transport Association. Last year, June traffic growth was at 5.1%. "This is the first sign of a significant slowdown in air travel, as a result of economic weakness and the impact of high fuel costs," the trade group said. Particularly hard hit was premium air traffic, down 0.4% for the month and reflecting a downturn in business travel, the association said.
10:15AM Czech Republic's GDP growth slows to 4.5% in second quarter by Polya Lesova
NEW YORK (MarketWatch) -- Economic growth in the Czech Republic slowed to 4.5% year-on-year in the second quarter, down from a revised GDP growth of 5.1% in the first quarter of the year, the Czech statistical office reported Thursday. The number was below market expectations for growth of 5% year-on-year. "Domestic demand, in particular, is dragging down growth," said Lars Christensen, chief analyst at Denmark's Danske Bank. He expects Czech GDP growth to be well below 4% in the second half of the year. "Today's numbers should reinforce Czech central bank confidence that its recent rate cut was the right thing to do and should open the door to further rate cuts if the Czech koruna rebounds, though the koruna has weakened somewhat on the back of today's data," Christensen said. The koruna fell 1.6% against the euro and 1.8% against the U.S. dollar.
:53AM South Africa's central bank keeps rates unchanged by Polya Lesova
NEW YORK (MarketWatch) -- South Africa's central bank kept its benchmark interest rate unchanged at 12% on Thursday, meeting market expectations. "Food and oil price increases continue to cloud the inflation outlook, but there are tentative signs that these pressures may be moderating," said the South African Reserve Bank in its monetary policy statement on Thursday. CPIX inflation, the monetary policy inflation target measure, increased at a year-on-year rate of 11.6% in June, up from 10.9% in May. The inflation measure continues to be well above the central bank's target of 3% to 6%. In Johannesburg, the All Share stock index rose 2% in intraday trading. South Africa's currency, the rand, rose 0.4% against the dollar. |
