Major Slowdown Ahead

July 2008
Emerging Europe Monitor: Central Europe & Baltic States;Jul2008, Vol. 15 Issue 7, p10
Country Report
The article provides an economic outlook for Estonia through 2009. According to analysts, Estonia's economy grew in the 2008 first quarter, and with inflation stuck at high levels and the job market yet to weaken, the likelihood of a recession has increased. It is reported that a sharp deceleration in the pace of real gross domestic product (GDP) growth appears to reflect weakening consumer demand and a decline in residential investment. However, real estate activity also declined in response to a decrease in property prices from overvalued levels.


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