Macro: COVID-19 Update CEE: Varied containment results amid recovering economies - Overviews as of 25 June 2020
We have renewed our slide deck to better reflect the current developments in the CEE region on the public health front and in the economy. The data is collected by Raiffeisen RESEARCH analysts based in CEE countries and in Austria and is continuously updated.Recent developments:
New cases: several countries have either not managed to contain the pandemic (RU, BY, PL) or are observing a second wave (RO, BG, BH, AL) and increase in new daily cases (details on slide 4) which led to discussions or actual return to some restrictions (BG).
Easing restrictions: most countries are already at last stages of restriction easing with shops and restaurants opened (under new strict sanitary rules). Schools remain mostly closed with returning plan in September, while kindergarten operate.
Borders are now mostly open with citizens in EU countries allowed to travel within the bloc (with some exceptions and restrictions however like in CZ) while initial talks point at possible opening outside EU from July.
Economic data shows low-point in April; industrial output and retail sales decline across the regions, but CE and RO industry hit most vs RU, while retail sales slumps more in SEE vs CE. Unemployment rates still stabilised in many countries by job retention schemes in place.
This Research was produced and first published by Raiffeisen Bank International AG which is supervised by the Austrian Financial Market Authority and the National Bank of Austria.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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