World outlook
Article Abstract:
The Asian financial crisis of late 1997 means that world economic growth is likely to be slower in 1998, and Japan is likely to be especially badly hit. The US economy could be affected enough for interest rates not to have to be raised. The US Federal Reserve faces a difficult decision since the labor market is tightening, and there is concern that policy mistakes made after stock price falls in 1987 could be repeated. The crisis will have more effect on the world economy if it spreads to regions such as Latin America and eastern Europe. Bond yields may have dropped too much in response to the crisis.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1998
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World outlook
Article Abstract:
Business cycles in the world economy are not synchronised, and this lack of synchronization is likely to continue. There is uncertainty over growth in Japan and the impact this will have on the world economy. US interest rates will have to be raised due to the danger of wage inflation. Japanese growth rates look set to rise in 1998, as do growth rates in mainland Europe. Asian economies will have their growth affected by a currency crisis. Meanwhile, Europe is preparing for monetary union, and the US dollar looks set to weaken in relation to the Japanese yen and German mark.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1997
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UK overview
Article Abstract:
The terrorist attacks in the US have had a strong impact on some sectors of the UK economy. This is particularly the case with the aviation industry, which represents 1.5% of GDP. It is now expected that GDP growth will slow to only 1.9% in 2002.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 2001
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