At the exact same time, analyst consensus was forecasting only .5% progress quarter-around-quarter, or a minimize of .7%. We thus observe reasonably considerable distinctions between the progress of Central European economies. The Hungarian overall economy consequently joined the Czech and Slovak economies, which also recorded quarter-more than-quarter progress in the next quarter of this year, albeit significantly reduced. (+.2% to +.4%).
In response to the GDP pattern release, the Hungarian forint, after slipping above 408 HUF / EUR in the morning, strengthened strongly yesterday and shut about the opening level. The development in GDP has not assisted the Polish zloty a great deal, so the Polish currency has continued its weakening development more than the past several days. Just after a extended period of time, the Czech koruna again fluctuated in a fairly slender band of CZK 24.53-24.59 / EUR.
Steady with developments in the key European economies, euro space GDP progress has been revised downwards, but only by a single-tenth (.6% vs. .7% quarter to quarter).
The creator is an economist at Komerční banka
(Edited editorial)
