Europe

Article Abstract:

The economy in the European Union is recovering, with real GDP increasing by 0.5% during the first quarter. Unemployment has fallen to 10.2%, with Luxembourg reporting the lowest rate of 2.2% and Spain the highest, with 18.8%. Inflation was 1.6% in May 1998, although the United Kingdom rate was 2.0%. The German economy is strengthening, with real GDP 1.0% higher in the first quarter than the previous one. Output is expected to increase by 2.6% during 1998. Interest rates throughout the Union are expected to be about 4% when EMU is introduced.

Administration of General Economic Programs, Intnl Economic Policy, Financial Forecasting, Forecasts and trends, International economic relations, European Union, Business forecasting

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Is the European economy turning the corner?

Article Abstract:

The European economy has had a disappointing performance with low growth accompanied with high unemployment, according to a report. However France, Germany and the UK have all seen growth improve over the past years. The report considers the reasons for the sluggish recovery to date such as demand-side factors, the advent of new technology and the lack of flexibility. It looks at the factors that are leading to the modest pick up in growth such as the loose monetary policy and low interest rates.

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