International economy: summary

Article Abstract:

Developed economies are forecast to grow by a little more than 2.3% for 1997 and 1998. US growth is forecast to drop to 2% in 1998 compared with a little more than 3% in 1997. There is mixed evidence as to whether domestic demand will increase in mainland Europe. Meanwhile, investor sentiment has moved against some developing economies and this could become a problem if it spreads more widely, leading to a drop in growth rates for these economies. Forecasts for economic growth in Eastern and Central Europe have been reduced, though not for other regions.

Currency Stabilization Programs, Prices and rates, Foreign exchange, Foreign exchange rates, Currency stabilization

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International economy: summary

Article Abstract:

Economic growth forecasts for some Latin American economies and the US have undergone upward revisions in the light of trends in 3rd qtr 1997, while the reverse has occurred for some Asian economies and Japan. US economic growth is likely to be 3.5% in 1997 and this causes concern about inflation. Japan, meanwhile, has been hit by tighter fiscal policy. Western Europe is likely to see growth strengthen to some 3% in 1998 from 2.5% for 1997, and is performing roughly as expected.

Economic aspects, Statistics, United States economic conditions, Asia, Western Europe

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International economy: summary

Article Abstract:

Commodity prices have dropped from Jan to April 1997, including petroleum prices. World economic growth is steady and inflation is subdued in 1997. Growth is expected to strengthen in western Europe during 1997 and 1998, and in Japan during 1998 after contracting in 2nd half 1997. The weakness of the Japanese yen should help exports. Growth could become weaker in the US in 1998, and US interest rates have already been raised due to concern about inflation.

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