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At a Glance…

The world economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • We have lowered our forecast for OECD economic growth in 2003 to 2.4 per cent.

  • The world economy will grow more strongly, by 3.4 per cent, helped by a strong performance by China and India.

  • The United States will grow by 2.3 per cent in 2002 and by 2.5 per cent next year.

  • The Euro Area will grow by just 0.9 per cent in 2002 and by 2.1 per cent in 2003.

  • Germany will be the slowest growing country in the Euro Area in both 2002 and 2003 and this year's budget deficit will breach the stability pact's limit of 3 per cent of GDP.

  • After shrinking by 0.6 per cent this year, Japan's economy will grow by 1.1 per cent in 2003.

  • Inflation is set to be at historically low levels, but widespread price deflation does not yet appear imminent.

Type
Articles
Information
National Institute Economic Review , Volume 182 , October 2002 , pp. 2 - 3
Copyright
Copyright © 2002 National Institute of Economic and Social Research

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