Industrial output and retail sales (excluding fuels) showed divergent dynamics over the past year across the CE/SEE and major Euro area economies:
- very good performance was recorded in Poland and Serbia, while Spain and Italy were the laggards
- industrial output: good performance for CE/SEE countries, very poor performance in Germany and France
- retail sales: incomplete recovery in most of CE/SEE countries, but strong gains in Germany and France
- Romania: strong increase of retail sales, still incomplete recovery of industrial output
