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Chapter II. The World Economy

Published online by Cambridge University Press:  26 March 2020

R.J. Barrell  and
Fiona Eastwood
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Extract

Output figures for the second half of 1987 suggest that the world economy has been growing more rapidly than we were anticipating in November. We now expect that output growth in the major seven reached almost 3 per cent last year. This strength has been concentrated largely in the US and Japan, with growth in continental Europe only slightly above our previous forecast levels.

Type
Articles
Information
National Institute Economic Review , Volume 123 , February 1988 , pp. 20 - 33
Copyright
Copyright © 1988 National Institute of Economic and Social Research

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Footnotes

∗

In preparing this chapter we have benefited from the advice and guidance of Simon Wren-Lewis, and from our discussions with Andrew Britton and George Ray.