The World Economy

Nigel Pain, Paul Ashworth, Dawn Holland, Florence Hubert and Dirk Willem te Velde

National Institute Economic Review, 2000, vol. 172, 33-61

Abstract: Global economic activity has continued to gain momentum in recent months and a cyclical upturn is now clearly underway. The rate of growth of world GDP is projected to rise to just under 4¼ per cent this year, from an estimated outturn of 3.4 per cent last year. Growth is expected to accelerate in all the major regional markets for the first time since 1994. The improving economic prospects are already apparent in the trade statistics for the latter part of last year. World trade growth, measured in terms of merchandise trade volumes, is expected to rise by 9 per cent this year from 5½ per cent in 1999.

Date: 2000
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