World outlook

Article Abstract:

The world economy has recovered rapidly, aided by the growth of the US economy. Economic growth for Group of 7 countries is estimated at 3% for 1994. Inflation has remained low, and is unlikely to be affected significantly by rises in commodity prices. Industrial economies have become less affected by commodity price changes due to substitution. The US dollar has depreciated from its mid 1992 level but does not seem to be at an abormally low effective exchange rate, while the Japanese yen has risen strongly between 1991 and the end of 1994.

Prices and rates, Foreign exchange, Foreign exchange rates, Gross domestic product, Inflation (Finance), Inflation (Economics)

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World outlook

Article Abstract:

The world economy looks set to continue growth during 1995. The US economy should reduce its growth rate and a soft landing is likely to be achieved as growth drops to 3.3% for 1995 compared with 4% for 1994. Japan should increase economic growth by more than 3% in the medium term, though the strength of the Japanese yen may affect recovery. Inflation control should be achieved for the Group of 7 nations. Interest rates look set to rise. The US dollar is likely to rise in value in relation to the German mark in 2nd half 1995.

Group of 7

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World outlook

Article Abstract:

There is concern that world economic recovery could be hesitating in 1995. Growth is slower in 1995 due to the Mexican financial crisis but the outlook for the medium term is more optimistic. The Mexican crisis has affected Latin American economies in particular and has also had an impact on exchange rates and interest rates in certain industrial economies. Commodity prices look set to drop over the longer term in relation to prices for manufactured goods.

International trade

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