Central Europe 2020 Outlook
Growth in 2019 surprised on the upside for many Central European markets (including countries in both Central and southeastern Europe), but softer external demand, tight labor markets, and a decline in private investment growth will lead to a notably softer economic expansion in 2020. Slower growth in the eurozone will lead to a fall in industrial production growth and fewer B2B business opportunities in the region. Domestic consumption, however, will remain resilient on the back of robust real wage growth, and the beginning of a new election cycle across the region will ensure that fiscal policy remains supportive of growing consumer demand. EU funding inflows and public investments will also continue to have a positive spillover effect on demand. Risks will remain few and mostly market specific, but further deterioration of the global trade environment will weigh on the outlook throughout 2020.
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