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| Author: | |
| Title: | The world economy in the spring of 1995 |
| Journal: | Economic Bulletin
1995 : MAY, VOL. 32:5 p. 3-6 |
| Index terms: | WORLD ECONOMY ECONOMIC PERFORMANCE ECONOMIC ANALYSIS |
| Language: | eng |
| Abstract: | The global economic upturn that began in 1993 and broadened and deepened during 1994 has continued. Economic growth has remained strong in the developing and newly industrialising countries; in North America the upturn has been maintained at a rapid pace, while in western Europe output has continued to expand rapidly following the "push for growth" last year. Only in Japan has the process of recovery been slow. Rates of capacity utilisation have risen markedly in most industrialised countries. There has been a sharp rise in employment in the USA, with a slight rise recorded in western Europe since mid-1994; only in Japan has the labour market so far failed to improve. The cyclical recovery in the industrialised countries was accompanied by moderate rates of inflation; last year the rise in the cost of living was slower than it had been for decades. |
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