Policy analysis featureThe World Economy at the Beginning of 1998
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Policy analysis feature The World Economy at the Beginning of 1998
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| 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997b | 1998c | |
| All developed economies | 4.4 | 3.7 | 2.7 | * 0.7 | 1.6 | 0.8 | 2.7 | 2.1 | 2.4 | 2.6 | 2½ |
| Major industrial countries | 4.5 | 3.7 | 2.7 | * 0.7 | 1.7 | 0.9 | 2.6 | 2.0 | 2.4 | 2.5 | 2¼ |
| Canada | 4.9 | 2.5 | -0.2 | -1.8 | 0.8 | 2.2 | 4.1 | 2.3 | 1.5 | 3.6 | 3¼ |
| France | 4.5 | 4.3 | 2.5 | 0.8 | 1.2 | -1.3 | 2.8 | 2.1 | 1.5 | 2.2 | 3¼ |
| Germany | 3.7 | 3.3 | 4.7 | * 1.2 | 2.2 | -1.1 | 2.9 | 1.9 | 1.4 | 2.4 | 2¾ |
| Italy | 3.9 | 2.9 | 2.2 | 1.1 | 0.6 | -1.2 | 2.2 | 2.9 | 0.7 | 1.3 | 2 |
| Japan | 6.2 | 4.8 | 5.1 | 3.8 | 1.0 | 0.3 | 0.6 | 1.4 | 3.5 | 0.8 | 1¼ |
| United Kingdom | 5.0 | 2.2 | 0.4 | -2.0 | -0.5 | 2.1 | 4.3 | 2.7 | 2.4 | 3.5 | 2½ |
| United states | 3.8 | 3.4 | 1.3 | -1.0 | 2.7 | 2.3 | 3.5 | 2.0 | 2.4 | 3.7 | 2½ |
| Other industrial countries | 3.6 | 3.8 | 2.8 | 0.9 | 1.1 | 0.5 | 3.0 | 2.7 | 2.4 | 2.8 | 3¼ |
| Australia | 3.8 | 4.2 | 1.2 | -1.3 | 2.6 | 3.9 | 5.4 | 4.0 | 3.6 | 3.1 | 3¾ |
| Austria | 4.1 | 3.8 | 4.3 | 2.8 | 2.1 | 0.4 | 3.1 | 1.8 | 1.2 | 1.8 | 2½ |
| Belgium-Luxembourg | 4.9 | 3.6 | 3.3 | 2.3 | 1.8 | -1.2 | 2.3 | 2.0 | 1.5 | 2.3 | 2¾ |
| Denmark | 1.2 | 0.6 | 1.4 | 1.3 | 0.2 | 1.5 | 4.3 | 2.6 | 2.4 | 2.5 | 3 |
| Finland | 4.9 | 5.7 | 0.0 | -7.1 | -3.6 | -1.2 | 4.4 | 4.3 | 3.7 | 4.6 | 4 |
| Greece | 4.5 | 3.5 | -0.6 | 3.5 | 0.4 | -0.9 | 1.5 | 2.0 | 1.8 | 3.3 | 3½ |
| Iceland | -0.1 | 0.3 | 1.3 | 1.1 | -3.4 | 1.0 | 3.7 | 1.0 | 5.2 | 1.0 | ½ |
| Ireland | 4.3 | 6.1 | 7.8 | 1.9 | 3.9 | 3.1 | 7.0 | 10.5 | 7.7 | 8.0 | 7 |
| Malta | 8.4 | 8.2 | 6.3 | 6.3 | 4.7 | 4.5 | 4.0 | 9.0 | 4.2 | 3.7 | 4¼ |
| Netherlands | 2.6 | 4.7 | 4.1 | 2.3 | 2.1 | 0.3 | 2.6 | 2.3 | 3.5 | 3.2 | 3½ |
| New Zealand | 2.3 | -0.6 | 0.3 | -2.3 | 0.6 | 5.1 | 5.5 | 2.7 | 2.1 | 1.5 | 3½ |
| Norway | -0.1 | 0.9 | 2.0 | 3.0 | 3.4 | 2.7 | 5.5 | 3.6 | 5.3 | 3.4 | 4¼ |
| Portugal | 4.0 | 4.9 | 4.1 | 2.1 | 4.2 | 7.8 | 1.9 | 2.0 | 3.0 | 3.3 | 3¼ |
| Spain | 5.1 | 4.8 | 3.7 | 2.3 | 0.7 | -1.2 | 2.1 | 2.8 | 2.2 | 3.2 | 3½ |
| Sweden | 2.7 | 2.4 | 1.4 | -1.7 | -1.4 | -2.2 | 2.7 | 3.0 | 1.1 | 2.3 | 3 |
| Switzerland | 3.1 | 4.4 | 3.7 | -0.8 | -0.1 | -0.5 | 0.5 | 0.8 | -0.2 | 0.7 | 1¾ |
| Memo items: | |||||||||||
| Western Europe | 4.0 | 3.4 | 2.9 | * 0.7 | 1.1 | -0.4 | 2.9 | 2.4 | 1.7 | 2.5 | 3 |
| European Union (15) | 4.1 | 3.4 | 2.9 | * 0.7 | 1.1 | -0.5 | 2.9 | 2.4 | 1.7 | 2.5 | 3 |
| Other | 2.1 | 3.3 | 3.2 | 0.4 | 1.0 | 0.6 | 2.1 | 1.7 | 1.7 | 1.7 | 2¾ |
Source: UN/DESA; based on IMF, International Financial Statistics.
* Indicates discontinuity in the series: from 1991, Germany includes eastern Lander.
a Data for country groups are weighted averages, where weights for each year are the previous year's GDP valued at 1993 prices and exchange rates.
b Preliminary estimates.
c Forecast, partly based on Project LINK.
Copyright © United Nations
29 December 1997