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The world economy [March 1992]

Love, Jim and Ashcroft, Brian and Brooks, Richard and Draper, Paul and Dunlop, Stewart and Leif, Kevin and Lockyer, Cliff and Malloy, Eleanor and McFarland, Mark and McGregor, Peter and McNicoll, Iain and McRory, Eric and Perman, Roger and Stevens, Jim and Swales, Kim and Yin, Ya Ping, Fraser of Allander Institute (1992) The world economy [March 1992]. Quarterly Economic Commentary, 17 (3). pp. 3-5. ISSN 0306-7866

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This brief article provides an analysis of key world economic trends based on recent data. GDP growth in the major industrialised countries showed a slight further decline in the third quarter of 1991. Comparing the third quarter with the corresponding period in the previous year, average growth in the G7 countries was 0.5%. This compares with 1.1% for the year to the first quarter of 1991 and 2.3% for the calendar year 1990. As with the previous quarter, German GDP showed a sharp fall, falling below 2% for the year to September. Individual country growth rates were as follows (Q3 1991 on Q3 1990): Canada -0.8%; US -0.9%; Japan 4.2%; France 1.4%; Germany 1.9%; Italy 0.9%; UK -2.2%. Industrial production did, however, show some recovery in the second half of the year.