Eastern Europe’s Two Biggest Economies Stumble on Weak Spending
- Poland’s GDP unexpectedly contracts; Romania stagnates
- Most EU eastern economies have slowed as Germany falters
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Economies in Poland and Romania stumbled as weak consumer demand was compounded by stagnation in Germany, adding to a picture of struggling growth across the European Union’s east.
Poland’s gross domestic product unexpectedly contracted by 0.2% in the third quarter compared to the previous period, after economists had forecast a 0.3% expansion. In Romania, growth stagnated as weak consumption sapped a raft of government spending on infrastructure and social benefits. Slovakia’s economy expanded 0.3%, as last quarter.