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| Author: | Gern, K.-J. |
| Title: | Euroland: Erholung gewinnt allmahlich an Fahrt |
| Journal: | Weltwirtschaft
2003 : 1, p. 57-94 |
| Index terms: | ECONOMICS EUROPE GROSS NATIONAL PRODUCT EMPLOYMENT INFLATION |
| Language: | ger |
| Abstract: | The economic expansion in Euroland is still moderate. In the course of 2002 real GDP increased at an average annual rate of only 1 percent. Investment continued to decline and recently also private consumption developed weakly. In the course of the slowdown, the unemployment rate increased only marginally; however, employment decreased in the second half of 2002, the first time since the recession of 1992/93. The inflation rate has remained stubbornly high; consumer prices increased by more than 2 percent also in 2002. The leading indicators do not suggest an acceleration of economic activity in the first months of 2003; however, there is also no evidence for a setback. For the year on average, the authors expect an increase of real GDP by 1 percent (original in German). |
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