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Eastern European economies 'are growing'

Several eastern European countries have seen strong rates of economic growth this year, according to new figures.

Official data from Romania shows that between July and September 2007, its economy had grown by 5.7 per cent when compared with 12 months before.

Other countries in the vicinity such as Poland were also found to have done well during this period, seeing growth of 6.4 per cent year-on-year.

Meanwhile, gross domestic product in Slovakia went up by 9.4 per cent.

Commenting on the figures, Lars Christensen of Denmark's Danske Bank said: "All three countries still continue to have quite strong growth driven by domestic demand."

Speaking to MarketWatch, he added that although the global credit crunch had slightly impacted on inflation, it had not resulted in a major slowdown in growth.

Recently, eastern Europe was recommended as a good region for overseas property buyers by Knight Frank.

Commenting in research commissioned by the Daily Telegraph, the organisation identified Romania as a particularly good option for overseas investors, along with Poland.

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