Economics
Eastern EU Economies Outpace Euro Area on Consumer Revival
- Growth accelerates in Poland, Romania, Slovakia, Bulgaria
- Czech Republic keeps fastest growth in region as Hungary slows
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A revival in household demand coupled with last-minute spending of European Union development funds helped the bloc’s eastern economies surpass their western neighbors last quarter.
Annual growth quickened to between 2.9 percent and 3.6 percent in Poland, Romania, Slovakia and Bulgaria, data released Friday showed. The Czech Republic grew fastest, even as expansion weakened to 4.3 percent. While Hungary’s economy slowed, it still outpaced the 1.6 percent notched by the 19-member euro area.