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Section III. Prospects for the European Union

Published online by Cambridge University Press:  26 March 2020

Nigel Pain ,
Paul Ashworth ,
Véronique Genre ,
Dawn Holland  and
Florence Hubert
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Extract

Economic growth in the EU slowed in the first half of 1999, with net trade in many countries having been adversely affected by the slowdown in global demand. Output was just 1.6 per cent above that in the same period in 1998, following growth of 2.7 per cent for 1998 as a whole. Growth was especially subdued in Germany, Italy, Belgium and Denmark. In contrast, growth in Sweden actually accelerated into 1999. A looser fiscal stance, with reductions in direct taxes, will help to keep Swedish domestic demand strong this year and next.

Type
The world economy
Information
National Institute Economic Review , Volume 170 , October 1999 , pp. 46 - 58
Copyright
Copyright © 1999 National Institute of Economic and Social Research

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References

Notes

(1) See Stewart, K.J. and Reed, S.R. (1999), ‘CPI Research Series Using Current Methods, 1978-1998’, Monthly Labor Review, June.Google Scholar

(2) For a detailed description of recent monetary policy in Japan see the speech by the Deputy Governor Yutaka Yamaguchi on October 19, available at http://www.boj.or.jp/en/press/koen042.htm.Google Scholar