The forecast prepared by GKI Economic Research Co. in co-operation with Erste Bank shows that both the depth and duration of the global recession are for the time being completely unpredictable.
The forecast prepared by GKI Economic Research Co. in co-operation with Erste Bank shows that both the depth and duration of the global recession are for the time being completely unpredictable. In 2009 the decline of GDP in the entire European Union will probably close to 2%, within this the downturn in Germany and consequently in Hungary will be somewhat deeper. At the moment it appears that the situation will most likely start improving in late 2009, but the actual developments could be more positive or more negative alike.
You can download the analysis from here.
