Western Europe
Article Abstract:
Economic growth has slowed in Western Europe during late 1998 and early 1999. High levels of consumer demand are likely to reverse the decline during 1999, but the forecast growth for 1999 is 2.1%, significantly lower than the 2.8% growth of 1998. Long-term prospects indicate that economic growth in 2000 is likely to be only slightly higher than 2.1%. Some countries have had higher growth, due to EMU-related falls in interest rates, and this should continue. Ireland should have growth of 7% in both 1999 and 2000, and growth in Finland, Portugal and Spain should be at least 3%.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1999
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Western Europe
Article Abstract:
Economic growth in Europe began to slow down in the second half of 1998. This can be attributed to the decline in global demand and stronger competition from Asian companies. Factors including falling inflation and income redistribution through tax changes have served to keep consumer confidence high, but the recession in manufacturing likely to emerge shortly is set to have a negative impact on consumer confidence. Inflation continues to decline, and this is likely to prompt the European Central Bank to make further interest rate cuts.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1999
User Contributions:
Comment about this article or add new information about this topic: