Since the bank´s previous quarterly publication, the region has continued to show recovery, supported by strong external demand and an improving domestic demand environment. In the 11 countries where UniCredit has access to seasonally adjusted GDP data, 10 showed qoq gains in 2Q10. Poland and Turkey are the only two countries in the region where GDP has recovered to in excess of its pre-crisis levels. In contrast, in Hungary and Romania, GDP remains 7-10pp below its pre-crisis levels.
The forecast covers 17 CEE countries in detail on 60 pages and can be downloaded by our members by clicking in the report below.