Economic outlook: United States
Article Abstract:
The recovery in the US started in 1991 with growth averaging 2.5%, and unemployment has fluctuated at about 5.5% for more than 2 years. GDP grew by 2.0% in the first quarter of 1996, 4.7% in the second quarter and 2.0% in the third quarter, and employment grew strongly. Headline inflation rose to 3.2% in December, from just over 2.5% at the end of 1995. Evidence suggests that earnings may be improving with hourly manufacturing rates up 3.8% in December. Rapid growth in consumption will come from a combination of strong employment and earnings growth leading to an increase in real disposable income.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1997
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World outlook
Article Abstract:
Growth in Europe slowed in 1996, although it accelerated sharply in Japan. The overall G7 growth forecast has been revised up to 2.7% in 1997, from 2.4%. There was stronger growth in the US economy and GDP growth of 3.3% in 1997 is predicted. The stronger G7 growth is expected to lead to an increase in inflation. Oil prices are expected to average about $19pb during the medium term, and the Fed Funds rate is expected to be raised. There are still uncertainties about conversion rates between the Euro and national currencies, and is appears unlikely that Britain will join in 1999.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1997
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United States
Article Abstract:
The US economy should see growth enhanced by lower long term rates of interest. Gross domestic product is forecast to grow by 3% in 1995 and the balance of trade looks set to improve. Deficit reduction has become a keey issue on the political agenda, and public spending is likely to be controlled though the deficit is not likely to disappear by 2002. A soft landing is likely for the economy and inflation prospects appear to be favorable.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1995
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