Stabilisation of a Weak Recovery in the CESEE Countries

The outlook for the world economy improved in the course of 2010 and the recovery has now gained strength in the EU as well. The Central, East and Southeast European (CESEE) countries have also recovered from the crisis; most of them recorded GDP growth rates. On average, their exports have been growing at an even stronger pace than before the crisis. On the other hand, industrial output has so far not surpassed pre-crisis levels. The persistent develpment in construction and fixed investments both rates echoing the still hesitant credit markets represents one of the key internal risks that could negatively affect the rather optimistic regional economic forecast.