wiiw Current Analyses and Forecasts
Estonia: Domestic demand reinforces growth
in: Fasting or Feasting? Europe - Old and New - at the Crossroads
wiiw Current Analyses and Forecasts No. 10, July 2012 , pp. 63-65
Dwindling external demand remarkably reduces the Estonian growth expectations for 2012. However, the strong increase in employment of 2011 brings about real wage growth and hitherto domestic demand to back the business cycle. Thus, the current account turns into deficit again. An upswing of GDP growth in 2013 to 2014 is likely but depends strongly upon a revival in the Scandinavian region.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Estonia