While Czech GDP figures point to a deeper recession,…
…Hungary’s GDP on the other hand surprises positively
Markets in Central Europe have to digest key eco figures from the whole region. Already yesterday, a historically first flash estimate of the Polish GDP showed that the Polish economy most probably grew less than expected. Polish statistical office reported that the GDP growth in the 1Q2013 was only 0.4% y/y, compared to market consensus of 0.7%. Low growth ensured market that the expectations of further rate cuts are justified, so as a result the Polish zloty slightly weakened. Moreover, more bad news for the zloty could be in the pipeline as inflation data will be released this afternoon.
Click here to read the full report: FX Daily
KBC