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| Author: | |
| Title: | World Outlook |
| Journal: | Economic Outlook
1997 : NOV, Vol. 22:1, p. 22-25 |
| Index terms: | ECONOMIC CONDITIONS DEVELOPED ECONOMIES ECONOMIC PERFORMANCE |
| Language: | eng |
| Abstract: | The economic cycles of the world's major industrialised countries remain out of phase. The economies of the United States and Canada are in their seventh year of recovery while those of Germany, France and Italy are only in their fifth year. The current US recovery has also been significantly stronger - since the start of the current expansion growth has averaged 2.7% per annum compared to just 2.0% in the three main continental European economies. As a result output is almost certainly above its potential level in the United States but well below potential in Germany, France and Italy. |
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