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IN PARTICULAR THERE ARE SOUND PROSPECTS FOR<br />
CORPORATE SECTOR ...<br />
15<br />
10<br />
5<br />
0<br />
INVESTMENT GROWTH (% real)<br />
avg 2005-'07<br />
avg 2008-'10<br />
Central Europe SEE&B Broader Europe<br />
Manufacturing still exploiting<br />
benefits of past investments,<br />
despite some lower demand<br />
(particularly in consumption<br />
goods) and pressures on<br />
competitiveness<br />
Trade patterns hold, as<br />
globalised production models<br />
are now consolidated<br />
Structural funds and<br />
infrastructural projects to<br />
provide some relief to<br />
construction, while the real<br />
estate sector enters a<br />
correction phase<br />
STILL HIGH INVESTMENTS EVEN IF SLIGHTLY DECELERATING<br />
17 Source: UniCredit Group CEE Economic Research
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