A. Situation and Prospects for the European Economy 3 I. Slower Growth of the World Economy 3 II. Weaker Expansion of the European Economy 5 III. Economic Policy 7 B. Country Reports 9 I. Germany: Upturn Continues Despite Financial Turbulence 9 II. Confidence Still High in France, Though Off Its...

World economic growth this year is likely to remain as weak as in 1998, despite a gradual acceleration in the course of the year. The volume of world trade is estimated to have fallen significantly in the latter half of last year, and to date there are few signs of a rapid recovery. However,...

World economic activity remains relatively robust, although the Asian crisis casts a shadow over the picture. The rate of growth of world trade has slowed down since last fall, but is expected to remain above its trend level. International price developments remain quite moderate. Oil prices...