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The world economy [September 1991]

Love, James and Ashcroft, Brian and Dourmashkin, Neil and Draper, Paul and Dunlop, Stewart and Malloy, Eleanor and Monaghan, Claire and McGregor, Peter and McNicoll, Iain and McRory, Eric and Perman, Roger and Swales, Kim and Yin, Ya Ping (1991) The world economy [September 1991]. Quarterly Economic Commentary, 17 (1). pp. 3-5. ISSN 0306-7866

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Abstract

This brief article provides an analysis of key world economic trends based on recent data. The rate of GDP decline among the leading industrialised countries increased sharply during the first quarter of 1991, with only Japan and West Germany showing clear signs of growth. Comparing the first quarter of 1991 with the corresponding period in 1990, average growth in the G7 countries fell to 1.1%; this compares with growth of 2.3% for 1990 as a whole. Canada, the United States and Britain all experienced declining GDP in the first quarter, with economic growth falling sharply in France. Individual country growth rates comparing the first quarter with the first quarter of last year were as follows: Canada -2.8%; US -0.6%; Japan 5.9%; France 0.9%; Germany 5.2%; Italy 1.8% (year to September 1990); UK -2.5%.