The resilience of Central and Eastern Europe in the face of the global economic slowdown is starting to erode, according to the October 2008 issue of Swedish bank SEB’s Eastern European Outlook. While many countries in the region that has become a favourite target for many property investors in recent years have maintained growth as a result of vibrant domestic economies, SEB has now adjusted downwards growth forecasts for regional economies. It also notes that most indicators for Estonia and Latvia point to a lengthy recession that will last during 2009 as well.
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