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Growth of retail turnover in the EU (in % compared to the same month of the previous year)
All the CEE countries have shown a dynamic growth of salaries in the last decade, in spite of a short slow-down in 2009 due to the global crisis. Forecasts for industrial production, a key factor underlying local GDPs, are optimistic for 2011.
GDP at constant prices (% change)
Most CEE countries have seen their currencies appreciate against the Euro and US dollar over the past few years, in favour of importers and retail operators. Slovakia and Estonia introduced the Euro in 2088 and 2011 respectively while Bulgaria has its currency pegged to the Euro.
Looking ahead, the combination of these two factors will further enhance the purchasing power of CEE customers – if the austerity measures in the budgets across the CEE regions don’t cut down the size of consumer wallets too significantly.
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