Economic condition outlook indicator WWK inched up by 0.2pps m/m in October to 147.5pts, according to a report of the Office for Investments and Economic Cycles (BIEC). However, BIEC noted that the growths since June are only "very moderate," which suggests a slow economic revival.
BIEC notes that the economic upturn is taking place chiefly thanks to foreign demand, while domestic demand has not yet shown any clear-cut signs of revival. Indeed, the share of exports in GDP has continued to increase in recent years - to 46% in 2012, the analysts added.
They also pointed to stagnation (in monthly terms) of new orders, except for exports orders. Also, the level of inventories and enterprises' financial situation remained broadly unchanged from the previous month.
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