Expansion of the world economy continues apace

Abstract

There has been further strong growth in global demand and production so far this year. While this is particularly true of the emerging economies and the developing countries, the industrialised countries are also showing marked expansion. Since the rate of expansion is generally little higher than the tempo of the growth of capacity, however, price rises have remained small. Employment on the other hand has increased noticeably. Unemployment has nonetheless remained high—albeit with pronounced regional differences. In continental Europe in particular, unemployment will remain a weak spot despite a further foreseeable upward trend in the economy.