Robust Growth Continues in CESEE Countries, but Zenith Appears to Have Been Passed

Recent statistics point at continued robust GDP growth in most Central, Eastern and South Eastern European (CESEE) countries. Nevertheless, they appear to have passed the zenith of their growth. On the one side, private consumer demand is slightly less dynamic, on the other side the slowdown in the euro zone dampens exports of many CESEE countries. Investment continues to burgeon, chiefly driven by EU transfers to the EU-CEEs as well as foreign direct investment in the western Balkans. Growth is expected to hit a downturn only in Romania and Turkey – countries whose economy had previously overheated.