Boom times for EU's East as GDP growth quickens

Slovakia

THE European Union's eastern economies began 2017 with a growth flurry as resumed flows of development funds from the bloc and improving demand in the euro area gave them the edge over the rest of the region.

Romania led the way, with first-quarter growth unexpectedly quickening to 5.7 per cent from a year earlier, more than the 4.5 per cent median estimate in a Bloomberg survey. Expansion in Poland, the east's biggest economy, accelerated to 4 per cent. Even at the bottom of the pack, the Czech Republic's 2.9 per cent increase in gross domestic product outpaced the euro area, the region's main trading partner.