Quarterly Macroeconomic Outlook: Economic growth slows down but fundamentals remain solid The global economy continues to expand solidly with the business cycle accelerating in the United States and slowing down in the Euro Area as well as some emerging market economies The economic outlook of the Central Eastern European region remains favorable, despite of emerging market turbulences. We project growth at 4.0 % (2018) and 3.5 % (2019) for CEE (ex Russia)