Western Europe
Article Abstract:
France and Spain are showing an improvement in domestic demand, while German consumer sentiment has been affected by a rise in unemployment. Budgetary tightening to prepare for European monetary union (EMU) will become less contractionary in 1998, and interest rates are converging at a relatively low level. The policy mix should support a recovery in domestic demand in western Europe, though the Asian financial crisis could have some effect on gross domestic product (GDP), with GDP growth held by by some 0.5% in 1998 as a result of the Asian crisis. Import penetration is likely to increase as a result of the crisis in Asia.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1998
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Western Europe
Article Abstract:
Western European economic growth has been moderate in 1st qtr 1997, and manufacturing business confidence has improved. Real growth of gross domestic product looks set to increase to 2.8% for 1998 compared with 2.2% for 1997. Unemployment has stabilised at some 10.8%, consumer confidence is improving, and investment spending will have to rise for the recovery to spread more widely. Market sentiment favors the start of European monetary union in Jan 1999, though there are concerns over France's ability to meet budget deficit targets.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
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Western Europe
Article Abstract:
Western European countries to take part in European monetary union (Emu) showed stronger growth for 1st qtr 1998, with growth especially strong in the Netherlands and Spain. Growth slackened in 2nd qtr 1998, affected by the Asian economic crisis. The Asian crisis has helped European inflation to fall. Fiscal policies have eased, and interest rates are low. Portugal and Spain have benefited in particular from lower interest rates. Meanwhile, the money supply has increased in countries due to take part in Emu.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: