The downturn in central European manufacturing eased markedly in June as economies reopened after the coronavirus lockdown, surveys showed on Wednesday, but the sector was still some way from returning to growth.
FILE PHOTO: Cars are parked in the courtyard of Skoda Auto's factory as the company restarts production after shutting down last month due to the coronavirus disease outbreak in Mlada Boleslav, Czech Republic, April 27, 2020. REUTERS/David W Cerny/File Photo
While economists say the worst has passed, central banks and governments in Poland, Hungary and the Czech Republic forecast gross domestic product will shrink by 3-8% in 2020. “At the moment the situation is calming down. We have no declines in Poland, we are resuming export sales.” “The expectation of new orders remains very uncertain,” said Bohuslav Cizek, director of economic affairs at the Czech Confederation of Industry.
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