CEE: PMIs point to further recovery | beyondbrics

CEE: PMIs point to further recovery | beyondbrics:

"

Central European economies are continuing to show signs to recovery, with the newest purchasing manager index reports released Tuesday surprising on the upside despite slightly worse numbers from Germany – the region’s largest export market.

In Poland, the largest CEE economy, PMIs jumped to 53.1 where anything above 50 marks an economic expansion. That is the highest level in two and a half years and was due largely to improvements in the employment picture.

That has some economists predicting that the economy may do better than expected once the recovery gathers a decent head of steam. Piotr Kalisz with Citi Research wrote:

for Poland we stick to our forecast of 2.8% economic growth in 2014 vs. consensus of ~2.5%. However, given increased fiscal space we see chances of Poland’s GDP accelerating above 3% next year."

'via Blog this'