Economies rebalance in wake of coronavirus

Poland should see a projected fall of 0.1 pct on GDP over the year, the Czech Republic could fall by 5.1 pct, Hungary by 0.3 pct, and Romania by 4.7 pct. So far the number of cases of coronavirus have been low, largely because CEE governments mostly implemented isolation policies early, but Colliers points out to a lack of testing and points out that the numbers could be misleading. CEE retail markets are facing the worst of the restrictive measures with all non-essential brick and mortar retail, F&B, entertainment, DIY, having been closed. E-commerce platforms, particularly food, are thriving and adapting to a huge spike in demand. Regional industry is also facing difficult challenges as the automotive industry has effectively halted production. Where possible, some manufacturers have adapted production to heavily demanded equipment and products for medical and hygiene uses. CEE logistics is thriving as e-commerce operators and distributors adapt to keep supply chains running smoothly as demand spikes from people and business operating under very different circumstances. Additional, short term storage/processing solutions are therefore in higher demand.