Growth performance in the countries of New Europe was strong in Q1-2007. Poland raced with 7.4% yoy, Ukraine rallied with 8.0% yoy and Romania with 6% yoy. According to conjuctural data, Turkey and Serbia expanded at a less vibrant, though robust growth rate. The main growth drivers are i) Private consumption in Bulgaria, Serbia and Ukraine ii) Investment in Poland and iii) Net exports in Turkey. Growth drove unemployment down in all countries of New Europe. As a result, skilled labor shortages have been more evident than before.
