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Central and Southeastern Europe: Diverse success in battling headwinds

July 2, 2012

Bank Austria UniCredit Research publication provides overview

Bank Austria UniCredit Research in Vienna marked down its GDP forecast for 2012 and next year for Central Europe to 2.6% and 3.4% respectively. Reasons for the less optimistic outlook are the persistence of the European Monetary Union crisis and the prospect of a more gradual recovery ahead. The economists still see a divergence across the region.
Hungary, the Czech Republic, and Romania are already in a technical recession while financing pressures leaves the economists cautious in their outlook for Hungary, Turkey, and Ukraine over the second half of 2012. That said, CEE is still set to significantly outperform the European Monetary Union economy which they now forecast at -0.4% and 0.6% this year and next.
The Bank Austria UniCredit Research publication “CEE Economic Data — 2010-2013” Issue 2/2012 provides an overview of important economic information for sixteen countries of Central and Eastern Europe as well as for Austria, Germany, Italy and the Eurozone.