War, Inflation Weigh on EU’s East, With Slow Recovery in Sight
- Poland’s quarterly slump smaller than economists’ forecasts
- Hungarian economy contracts as industrial output fell
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The war in Ukraine and lingering high inflation weighed on economies in the European Union’s east in the first quarter, though data pointed to a gradual rebound.
Poland’s economy — the largest in the region — contracted in the first quarter, though the slump was less than forecast. Hungary remained in recession, posting its third consecutive quarterly economic contraction as industrial output fell. Romania said its economy grew less than expected, barely avoiding a quarterly contraction.