Economic Flip Shields East EU From Russia Row: Chart of the Day - Bloomberg

Economic Flip Shields East EU From Russia Row: Chart of the Day - Bloomberg:



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The European Union’s eastern members are sheltered from tit-for-tat trade sanctions with Russia as rising consumer demand and investment help smooth over economic dips from declining exports.



The CHART OF THE DAY, using Bloomberg calculations based on Eurostat data, shows the rising contribution of domestic demand to the economies of the Czech Republic, Poland, Hungary and Slovakia, the EU’s four main central European states with the region’s closest trade ties to the euro area. The Czech, Slovak and Hungarian prime ministers bristled against sanctions to Russia, saying they will hurt them more than help Ukraine.



“Reviving consumption has offset weakness in main export markets, namely Germany,” said Lubomir Korsnak, an economist at UniCredit Bank in Bratislava. “It can serve as a buffer should foreign demand deteriorate because of the Ukraine crisis.”"



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