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Chapter II. The World Economy

Ray Barrell and Fiona Eastwood

National Institute Economic Review, 1988, vol. 123, 20-33

Abstract: 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.

Date: 1988
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