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Economic Indicators Bulletin for SEE - August 2015

According to flash estimates, economic activity in the countries that we focus on shows signs of significant recovery and improvement this year, particularly in Cyprus and Serbia where real GDP rates returned to positive territory.
  • In Albania, economic activity picked up in 2015Q1 as real GDP increased to 2.8% from 2.4% in 2014Q4 and 0.7% in 2014Q1.
  • In Bulgaria, according to the flash estimates, real GDP in 2015Q2 increased at a faster rate of 2.2% YoY compared to 2.0% in 2015Q1, while on a quarterly basis real GDP increased by 0.4% from 0.9% in the same periods.
  • In Cyprus, economic activity increased for a second consecutive quarter, according to the flash estimates. Specifically, real GDP increased by 0.9% YoY in 2015Q2 from 0.2% in 2015Q1, while on a quarterly basis real GDP increased by 0.5% compared to 1.4% in the same periods.
  • In Romania, according to the flash estimates, real GDP increased by 3.7% YoY in 2015Q2 from 3.8% in 2015Q1. On a quarterly basis, real GDP increased marginally by 0.1% in 2015Q2 compared to 1.4% in the previous quarter.
  • In Serbia, according to the flash estimates, in 2015Q2 real GDP increased for the first time after five quarters of posting negative figures. Specifically, real GDP increased by 0.9% YoY in 2015Q2 compared to a decrease of 1.8% in 2015Q1 and 1.2% in 2014Q2.

        

Ilias Lekkos

Group Chief Economist

                                                                                                                   

Dimitria Rotsika

Economist