Recession To Reach Bottom In Q209-Q309

Leading indicators suggest that while the Polish economy may have sidestepped recession during the first quarter of 2009, the collapse in consumer spending in the following quarters will likely tip the economy over the edge by mid-year. Moreover, though our global outlook projects an economic trough in H109 for most developed markets, we believe that the Polish economy will bottom out in Q209-Q309, and will enjoy a fairly spritely recovery thereafter

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