GlobalAutoTV
Click to watch Dr. Juergen Weber -
Click to watch Dr. Juergen Weber -
euro resources


Need an office in Europe or Eastern Europe? Office suites, meeting rooms, virtual offices, network access




free downloads
EUROPE: "Autos: European Production Flat Despite Easter Shift (2014)" report

EUROPE: "Autos: European Production Flat Despite Easter Shift (May 2014)" report. 4-page report by BAIRD.

proceed to download
eJournals





back to index backEUROtalk June,  2017


Economic Snapshot for Central & Eastern Europe

Growth rises at the start of 2017:

Preliminary data for the first quarter of 2017 showed that the economies of Central and Eastern Europe (CEE) gained steam at the start of 2017. GDP expanded 3.3% over the same period of the previous year in Q1, above the 2.8% increase recorded in Q4 2016 and the best result in nearly one year. Lithuania’s economy grew at the fastest pace since Q2 2014, likely on the back of strong domestic demand thanks to wage increases and strong credit growth. In addition, GDP growth in Latvia accelerated.

Although official GDP data is not yet available for the remaining economies, monthly indicators suggest that activity firmed in most of the region’s major players including Hungary and Poland. In addition, growth is expected to have remained robust in Romania, although below Q4’s pace. Overall, fiscal stimulus and easy monetary conditions are supporting spending in the region and improving external demand is also boosting activity. FocusEconomics panelists see GDP increasing 3.1% in Q2.  

In the political arena, the past month has been a whirlwind for Croatia and the Czech Republic. In Croatia, Finance Minister Zdravko Maric narrowly survived a no-confidence vote on 4 May, avoiding holding a second snap election in one year. The government has been at the brink of collapse since MOST quit the governing coalition on 28 April. While a snap vote has been avoided for now, the government’s slim support is a poor sign for political stability going forward.

The Czech Republic has also been embroiled in a political crisis due to a clash between Prime Minister Bohuslav Sobotka from the Social Democratic Party and Finance Minister Andrej Babis from ANO 2011. After announcing that his government would resign, Sobotka abruptly changed course on 5 May and announced that he would seek to only remove Babis. While the political noise has been high, the disturbance is not expected to have any large effects and elections are already scheduled for October.     

Prospects brighten this month

The CEE’s economic outlook was upgraded this month and FocusEconomics panelists revised their GDP forecast for 2017 up a notch. Our panelists now see regional GDP expanding 3.2% in 2017, as a solid domestic economy and improving demand from abroad act as tailwinds. In addition, positive data from the beginning of the year supported the upgrade. Next year, the panel sees the economy remaining on a healthy footing and growing 3.1%.

7 of the 11 economies surveyed in this report saw brighter prospects this month, including Poland and all of the Baltic countries. No country saw its outlook downgraded, while four economies, including the Czech Republic and Romania saw no change to their outlooks.

Romania is projected to be the region’s fastest-growing economy this year, with an expected expansion of 3.9%. Bulgaria, Hungary, Poland and Slovakia are also seen achieving fast growth rates of over 3.0%. On the other side of the spectrum, the Czech Republic and Estonia are expected to be the CEE region’s laggards, with expansions of 2.6%.

To read entire article, please click here.

Source: FocusEonomics
- GAI






previous page

go top
search our site


Loading

EUROtalk

Other articles from the same issue (June,  2017).

New EU car emissions tests slammed as 'paper tiger'
play read on

The digitalisation of the UK automotive industry
play read on

Europe: Automobile Industry Pocket Guide 2017 - 2018
play read on

Autos: Europe Demand Falls on Selling Day Shift; Underlying Demand Stable (May 2017)
play read on

Automobile industry reacts to EU mobility package
play read on

Europe (Germany) is a Major Global Factor in AutoTech
play read on

Turkey: Automotive Industry Monthly Report (1st 4 months of 2017)
play read on

France to Corrupt Multinationals: You Can Run, But You Can’t Hide
play read on

The Deloitte Global Chief Procurement Officer Survey 2017
play read on

EY's Attractiveness Survey report (Europe: May 2017)
play read on

The Future is Now at the Port of Rotterdam: 3-D Printing Case Study
play read on

Central and Eastern Europe trapped in low wage spiral
play read on

Why should European industry embrace the rise of IoT?
play read on

UK, European suppliers consider cutting ties due to Brexit
play read on

Boardrooom Brexit
play read on

Brexit opens Pandora’s box of legal issues for international companies
play read on

Brexit: the supply chain perspective
play read on

Key to Germany's Continued Manufacturing Success is Low Profile, Mid-Sized "Hidden Champions"
play read on

Netherlands to redefine scope of dividend withholding tax act
play read on

Economic Snapshot for Central & Eastern Europe
play read on

Poland: A new amount of relief for R&D works from 1 January 2017
play read on

German Tax Monthly June 2017
play read on

The largest European research initiative in the field of Industry 4.0
play read on

Top 10 EMS Providers in Europe – 2016
play read on

Consumer confidence improves
play read on

Overview of European supply chain events 2017
play read on

What the world can learn from Switzerland
play read on

Doing business in Russia (2017 Guide)
play read on

Europe's manufacturing growth hits 6-year high
play read on

UK economic outlook update
play read on


Our Free eJournals
GlobalAutoExperts

To visit GlobalAutoExperts Directory, click here.


©2008 GlobalAutoIndustry.com | HCI Group, Ltd.
101 West Big Beaver Road, Suite 1400 | Troy, MI 48084 USA
USA Tel: +1.248.687.1060 | USA Fax: +1.248.927.0347
Fax UK: +44.(0)845.127.4765 | Fax Europe: +31.20.524.1659 | Fax Asia: +852.3015.8120