CEE countries Q3 GDP preview

The Central and Eatern European countries and Romania are going to publish their Q3 GDP first estimates today. The economic recovery likely continued through the quarter. Growth likely stayed resilient to any emerging market volatility.

"Nevertheless, we expect slightly slower growth rates than in Q2. Poland is likely to have recorded 3.1% yoy vs. 3.3% in Q2. There is some chance of a positive surprise from pre-election government spending, but we would not attach too much significance to this as it would get reversed in Q4", says Commerzbank in a research note. 

Czech Republic is likely to see an upside, a 4.2%y/y reading is expected in consensus. This is led by EU-funded inflows and investment in aircrafts.

Hungary might report slow growth than in second quarter of this year. Due to CNB's cap on the exchange rate, CZK cannot gain much, however. There will be marginal gains in PLN and HUF after the data, but not significant ones.