Macro: Update_COVID19 CEE OverviewMeasures 29_07_2020

This slide deck gives you an updated overview of restrictions and economic, fiscal and monetary measures in Central, South Eastern and Eastern Europe (CEE), Austria, Germany and the USA. The data is collected by Raiffeisen RESEARCH analysts based in CEE countries and in Austria and is continuously updated. Recent developments:
New cases: Concerns about second wave of pandemic remain as most CEE countries either reached new record high in new daily cases or remain close to them. AT, HU, CZ, SK while still well below peaks, all observed spike in new cases recently.
Responses: No country seems to openly consider lockdown as observed in March in April while further mild restrictions are being implemented with KO applying broadest measures (prohibited attending sports, cultural and religious events). CZ introduced warning system for regions. Meanwhile in response to rising cases and new restrictions RS reacted with another stimuli of app EUR 561mn (first package 5.1bn) to be approved soon with minimal salaries provided for Aug and Sept. In RU central bank cut rates by 25bp.
High frequency and economic data shows rebound for most countries. Mobility increased in PL and HR amid holiday season on beaches and marinas; In CE Energy usage has almost fully ecovered. Among available monthly indicators industrial output and retail sales recovered further in June with although relatively less in BH. Unemployment rates still post limited increase in many countries owing to 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