1945

Overview

The world economy is continuing to grow slowly. Despite the success in reducing inflation almost everywhere, expectations of faster growth have not been fulfilled so far. Since the beginning of the decade, world output growth has averaged about 2 per cent, compared to the roughly 3 per cent attained during the turbulent years of the 1980s. Since the economic recovery that started in 1993, in no year has world output growth exceeded 3 per cent, 1996 included. The prospects are for a continuation of this slow growth.

Related Subject(s): International Trade and Finance
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