The international environment

Quarterly Bulletin 1993 Q1
Published on 01 March 1993

The slowdown in western Europe and Japan is likely to be offset by stronger growth in North America.

The short-term outlook for the world economy has changed little in aggregate over the past three months, with worsening conditions in western Europe and Japan largely offset by strengthening in North America. Activity in continental Europe was considerably weaker, with Germany moving into recession and Italy and Spain slowing appreciably.

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