Economic Expectations Remain Robust

Economic expectations for Central and Eastern Europe including Turkey (CEE region) stay unchanged in September 2016. The ZEW-Erste Group Bank Economic
Sentiment Indicator for the CEE region remains at 15.4 points, the same
reading as in the previous month. The ZEW-Erste Group Bank Economic
Sentiment Indicator for Central and Eastern Europe reflects financial
market experts’ expectations for the CEE region on a six-month time
horizon. The indicator has been compiled on a monthly basis together with
further financial market data by ZEW, Mannheim, in collaboration with Erste
Group Bank, Vienna, since 2007.

Information concerning further indicators for the CEE region, the Eurozone,
the individual CEE countries covered by the analysis, and Austria can be
found in the table at the bottom of the press release. The answers of all
survey participants are taken into account for the calculation of the
indicators for the CEE region, the Eurozone and Turkey. The answers of the
Turkish survey participants are not incorporated into the calculation of
the indicators for individual CEE countries and Austria, because their high
participation share in the survey could cause significant biases in the
survey results.

For further information please contact:
Markus Teske, Phone +49 (0)621/1235-372, E-mail teske@zew.de