Q3 GDP surprises on upside but twin speed recovery still likely

The raft of third-quarter GDP data released this morning generally surprised on the upside. Hungary, Slovakia and the Czech Republic all expanded at a faster pace than expected, while Romania contracted by less than we had anticipated. The key point, however, remains that the region is still facing a twinspeed recovery, with Poland and Turkey leading the way and the Baltics and Balkans lagging behind.

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