BLOOMBERG/ PETER LACA / Led by robust German exports which feasted on a cheaper euro, Eastern Europe in Q2 strengthened from a year earlier because of demand for cars and electronic goods in western Europe. Germany, the region’s largest trading partner, grew in the second quarter at the fastest pace since reunification 20 years ago. At 2.2 %, Germany was responsible for almost two thirds of Western Europe's Q2 expansion even though it only makes up about one quarter of the economy. Of country's reporting so far, Slovakia had the steepest growth in the region at 4.6% while the Czech Republic posted a more modest 2.2% GDP spurt. Romania slowed to an anemic 0.5%; Bulgaria's GDP actually shrank 1.5% after a 3.6% decline in the first quarter while Estonia grew at an impressive 3.5% pace.
FOR OPPOSING OPINION On German Boom, SEE: Benjamin Dierks AT:
http://www.guardian.co.uk/commentisfree/2010/aug/13/germany-economy-old-fashioned-boom
Posts
