World
Article Abstract:
The European Union saw an increase in gross domestic product of 2.7% for 1997, the highest level since 1994, but the Group of 7 nations are likely to see growth of 2% rather than 2.2% as previously predicted for 1998. This reflects the impact of Japan's economic problems. Asian financial markets are stabilising, but economic growth will be affected and exports will be hampered by a credit crunch in many countries. Bond yields have dropped, and this has helped boost stock prices and well as helping to push down commodity and petroleum prices. Lower commodity prices are helping boost growth in the US and Europe.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1998
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United States
Article Abstract:
US economic growth has been boosted by consumption. Unemployment has dropped, inflation is low, and real earnings are rising. Consumer spending may moderate, especially if consumer confidence is affected by a correction in stock prices, which are not likely to continue to grow rapidly, even if no correction occurs. Housing starts could drop, and interest rate rises over the long termmay affect investment in fixed, non-residential projects. Slower economic growth is likely for the US for 2nd half 1999.
Publication Name: Economic Outlook
Subject: Economics
ISSN: 0140-489X
Year: 1999
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