Central and Southeast Europe Economic Outlook: Hungary, Croatia and Serbia Data in Focus

Investors are closely watching key economic events in Central and Southeast Europe this week, with major updates expected from Hungary, Croatia and Serbia. According to Erste, the Hungarian central bank is set to hold its latest interest rate meeting, a decision that could shape the country’s monetary policy outlook for the coming months. While there is room for monetary easing to resume later this year, Erste’s baseline scenario points to stable interest rates in February as policymakers assess inflation trends and broader economic conditions.

In addition to the central bank meeting, Hungary will publish fresh labor market and inflation-related data. The unemployment rate and producer price index (PPI) figures, due at the end of the week, will provide further insight into wage pressures, industrial costs and overall economic momentum. These indicators are critical for evaluating Hungary’s inflation path and the potential direction of future interest rate decisions.

Croatia will also be in the spotlight with the release of its fourth-quarter 2025 GDP data, including a detailed breakdown of growth components. Erste expects solid economic growth of around 3%, reflecting resilient domestic demand and stable macroeconomic conditions. Alongside GDP figures, Croatia will publish detailed inflation data, unemployment statistics and producer prices, offering a comprehensive snapshot of the country’s economic performance and price developments.

Meanwhile, Serbia is scheduled to release January data on industrial production, retail sales, producer prices and wage growth. Erste noted that industrial output was likely significantly affected by the closure of NIS, while retail sales are expected to show early-year growth. Together, these economic indicators will help investors assess regional growth prospects, inflation trends and the broader economic outlook across Central and Southeast Europe.