World outlook

Article Abstract:

The major industrial nations are experiencing quickening growth but this is not accompanied by accelerating inflation. GDP in the G7 countries increased by 3% in the first quarter of 1997, with steady growth in the US, UK and Canada, and a more erratic pattern in Japan and continental Europe. The forecast is for average G7 growth to be 2.8% in 1997 and 2.5% in 1998. Inflation has decreased in the US, Italy and France, and, with interest rates looking set to increase in 1998, the revised forecast is for average G7 inflation to be 1.9% in 1998. Forecasts concerning European budget deficits and EMU membership are included.

Prices, Interest Rates

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World assessment

Article Abstract:

Economic growth is likely to be stronger in the US than in Japan and Europe during the first decade of the 21st century, with trend growth forecast at around 3.2% a year. Long-term growth in Japan will be around 1.75% a year, while Europe is forecast to see trend growth of around 2.25% a year. Asia is set to see a return to high real growth rates, and will also enjoy low inflation and a strong trade surplus. China's economy expanded almost constantly during the 1990s, but many forecasters now anticipate that China's rate of economic growth will slow down.

National Income-Rest of World, China, Asia

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World economy

Article Abstract:

Global economic trends analysis shows that global gross domestic product growth is more than 2% to date in 1999. Forecasts indicate that the US's booming economy has greatly influenced the positive world economic outlook. It will slow down in the foreseeable futures, however, according to forecasts. Evidence suggests that the US could suffer from a very poor global economic climate if current account imbalances prevail.

International aspects

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