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The world economy [March 1991]

Love, Jim and Ashcroft, Brian and Brooks, Richard and Dourmashkin, Neil and Draper, Paul and Dunlop, Stewart and Lockyer, Cliff and Malloy, Eleanor and Monaghan, Claire and McGregor, Peter and McNicoll, Iain and McRory, Eric and Perman, Roger and Swales, Kim (1991) The world economy [March 1991]. Quarterly Economic Commentary, 16 (3). pp. 3-6. ISSN 0306-7866

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Abstract

Despite some evidence of a decline in September, year-on-year growth in industrial production continued to be healthy in the third quarter of 1990. In the year to September both the G7 countries and the OECD as a whole experienced 2.6% growth in industrial production. As in previous quarters, the German and Japanese economies continued to provide the bulk of the growth, with increases in industrial production of 6.0% and 7.7% respectively for the year to September (October for Japan). While less spectacular, France (2.4%) and the United States (1.8%) also showed reasonably healthy growth, while the UK went into sharp decline, with annual growth of - 2.3% for the year to September. Growth rates of industrial production for the remaining G7 countries were Italy, 0.6% and Canada, -4.2%. Analyses of macroeconomic trends, including an analysis of the economic health of the United States, Japan and Germany, is also provided.